Note 11 – Borrowed Funds

The following is a summary of short-term borrowings with original maturities of less than one year:


(Dollars in thousands)	Nine Months Ended September 30, 2013		Year Ended December 31, 2012
Securities sold under agreements to repurchase:
Outstanding at end of period	$	59,106	$	39,257
Weighted average interest rate at end of period		0.07%		0.34%
Maximum amount outstanding as of any month end	$	59,106	$	52,367
Average amount outstanding	$	46,478	$	38,812
Approximate weighted average rate during the period		0.10%		0.34%

At September 30, 2013, the repurchase agreements were secured by $76.7 million in available-for-sale investment securities.

The following is a summary of long-term borrowings with original maturities exceeding one year:


	September 30,		December 31,
(In thousands)	2013		2012
FHLB advances, bearing fixed interest at rates ranging from 1.00% to 3.69% at September 30, 2013	$	135,958	$	136,005
Junior subordinated debt, bearing variable interest rates ranging from 2.10% to 3.00% at September 30, 2013		35,929		35,929
Junior subordinated debt, bearing fixed interest rate of 9.88% at September 30, 2013		10,801		10,801
Total long-term debt	$	182,688	$	182,735

At September 30, 2013, the long-term FHLB advances were secured by $158.8 million in loans and $ 1.7 million in investment securities.

The contractual maturities of all long-term borrowings are as follows: