XML 99 R15.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Borrowings | 12 Months Ended
--- | ---
Dec. 31, 2014
Borrowings [Abstract] |
BORROWINGS | NOTE 7 - BORROWINGS Short-term borrowings at December 31 consist of the following:
| 2014 |  | 2013
| ( In Thousands)
Securities sold under agreements to repurchase | $ | 25,695 |  | $ | 36,500
Federal Home Loan Bank short-term borrowings |  | - |  |  | 13,414
The outstanding balances and related information of short-term borrowings are summarized as follows:
| Years Ended December 31,
| 2014 |  | 2013
| (Dollars In Thousands)
Average balance during the year | $ | 36,514 |  |  | $ | 30,832 |
Average interest rate during the year |  | 0.21 | % |  |  | 0.21 | %
Maximum month-end balance during the year | $ | 49,634 |  |  | $ | 49,914 |
Weighted average interest rate at the end of the year |  | 0.20 | % |  |  | 0.21 | %
Securities sold under agreements to repurchase generally mature within one day to one year from the transaction date. Securities with an amortized cost and fair value of $28,914,000 and $28,437,000 at December 31, 201 4 and $40,065,000 and $38,733,000 at December 31, 201 3 respectively, were pledged as collateral for these agreements. The securities underlying the agreements were under the Company’s control. The Company has a line of credit commitment available from the FHLB of Pittsburgh for borrowings of up to $143,614,000 which expires in May, 201 5. There were no b orrowings under this line of credit at December 31, 201 4 and $13,414,000 in borrowings at December 31, 2013. The Company has a line of credit commitment available from Atlantic Community Bankers Bank for $7,000,000 which expires on June 30, 201 5. There were no borrowings under this line of credit at December 31, 201 4 and 201 3. The Company has a line of credit commitment available from PNC Bank for $16,000,000 at December 31, 201 4. There were no borrowings under this line of credit at December 31, 201 4 and December 31, 201 3. During 2014, the Company was granted a line of credit from Zion’s Bank for $17,000,000. There were no borrowings under this line of credit at December 31, 2014. Other borrowings consisted of the following at December 31, 201 4 and 201 3:
| 2014 |  | 2013
| (In Thousands)
Notes with the FHLB: |  |  |  |  |
Convertible note due July 2015 at 4.34% | $ | 7,111 |  | $ | 7,301
Convertible note due January 2017 at 4.71% |  | 10,000 |  |  | 10,000
Amortizing fixed rate borrowing due January 2018 at 0.91% |  | 1,866 |  |  | 2,460
Amortizing fixed rate borrowing due December 2018 at 1.425% |  | 3,223 |  |  | 4,000
| $ | 22,200 |  | $ | 23,761
The convertible notes contain an option which allows the FHLB, at quarterly intervals, to change the note to an adjustable-rate advance at three-month LIBOR plus 17 to 22 basis points. If the notes are converted, the option allows the Bank to put the funds back to the FHLB at no charge. Contractual maturities of other borrowings at December 31, 2014 are as follows (in thousands):
2015 | $ | 7,111
2017 |  | 10,000
2018 |  | 5,089
| $ | 22,200
The Bank’s maximum borrowing capacity with the FHLB was $276,614,000 of which $22,089,000 wa s outstanding at December 31, 201 4. Advances from the FHLB are secured by qualifying assets of the Bank.

X
- Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration