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Borrowed Funds | 3 Months Ended
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Mar. 31, 2014
Borrowed Funds [Abstract] |
Borrowed Funds | Note 12 – Borrowed Funds The following table summarizes short-term borrowings with original maturities of less than one year:
(Dollars in thousands) | Three Months Ended March 31, 2014 | Year Ended December 31, 2013
Securities sold under agreements to repurchase: |  |  |  |
Outstanding at end of period | $ | 43,617 | $ | 43,676
Weighted average interest rate at end of period |  | 0.13% |  | 0.14%
Maximum amount outstanding as of any month end | $ | 48,195 | $ | 61,354
Average amount outstanding | $ | 43,307 | $ | 47,777
Approximate weighted average rate during the period |  | 0.13% |  | 0.13%
At March 31, 2014, the repurchase agreements were secured by $64.9 million in available-for-sale investment securities. The following table summarizes long-term borrowings with original maturities exceeding one year:
| March 31, | December 31,
(In thousands) | 2014 | 2013
FHLB advances, bearing fixed interest at rates ranging from 1.00% to 3.69% at March 31, 2014 | $ | 135,926 | $ | 135,942
Junior subordinated debt, bearing variable interest rates ranging from 2.08% to 2.98% at March 31, 2014 |  | 35,929 |  | 35,929
Junior subordinated debt, bearing fixed interest rate of 9.88% at March 31, 2014 |  | 10,801 |  | 10,801
Total long-term debt | $ | 182,656 | $ | 182,672
At March 31, 2014, the long-term FHLB advances were secured by $161.6 million in loans and $.6 million in investment securities. The contractual maturities of all long-term borrowings are as follows:
| March 31, 2014 |  | December 31, 2013
| Fixed | Floating |  |  |  |  |
(In thousands) | Rate | Rate | Total |  | Total
Due in 2014 | $ | 0 | $ | 0 | $ | 0 |  | $ | 0
Due in 2015 |  | 30,000 |  | 5,000 |  | 35,000 |  |  | 35,000
Due in 2016 |  | 0 |  | 0 |  | 0 |  |  | 0
Due in 2017 |  | 0 |  | 0 |  | 0 |  |  | 0
Due in 2018 |  | 70,000 |  | 0 |  | 70,000 |  |  | 70,000
Due in 2019 |  | 0 |  | 0 |  | 0 |  |  | 0
Thereafter |  | 46,727 |  | 30,929 |  | 77,656 |  |  | 77,672
Total long-term debt | $ | 146,727 | $ | 35,929 | $ | 182,656 |  | $ | 182,672

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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