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Other Borrowings
9 Months Ended
Sep. 30, 2011
Other Borrowings [Abstract] 
Other Borrowings
Note 5. Other Borrowings

The Bank had unused lines of credit totaling $117.8 million available with non-affiliated banks at September 30, 2011. This amount primarily consists of a blanket floating lien agreement with the Federal Home Loan Bank of Atlanta (FHLB) under which the Bank can borrow up to 19% of its total assets.

At September 30, 2011, the Bank had borrowings from the FHLB system totaling $25.0 million which mature through March 28, 2013. The interest rate on these notes payable ranged from 0.13% to 1.91% and the weighted average rate was 0.71%. The Bank had collateral pledged on these borrowings, including real estate loans totaling $63.4 million and FHLB stock with a book value of $2.0 million.

At September 30, 2011, the Bank had a $106 thousand note payable, secured by a deed of trust, which requires monthly payments of $2 thousand and matures January 3, 2016. The fixed interest rate on this loan is 4.00%.