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Other Borrowings | 12 Months Ended
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Dec. 31, 2011
Other Borrowings [Abstract] |
Other Borrowings | Note 8. Other Borrowings The Bank had unused lines of credit totaling $96.8 million and $127.7 million available with non-affiliated banks at December 31, 2011 and 2010, respectively. These amounts primarily consist of a blanket floating lien agreement with the Federal Home Loan Bank of Atlanta in which the Bank can borrow up to 19% of its assets. At December 31, 2011 and 2010, the Bank had borrowings from the Federal Home Loan Bank system totaling $19.0 million and $20.0 million, respectively, which mature through December 28, 2018. The interest rate on these borrowings ranged from 1.25% to 2.04% and the weighted average rate was 1.66% at December 31, 2011. The Bank also had a letter of credit from the Federal Home Loan Bank totaling $30.0 million at December 31, 2011. The Bank had no letter of credit from the Federal Home Loan Bank at December 31, 2010. The Bank had collateral pledged on these borrowings and letter of credit at December 31, 2011 including real estate loans totaling $107.8 million and Federal Home Loan Bank stock with a book value of $1.9 million. At December 31, 2011, the Bank had a $100 thousand note payable, secured by a deed of trust, for land purchased to construct a banking office, which requires monthly payments of $2 thousand, and matures January 3, 2016. The fixed interest rate on this loan is 4.00%. The contractual maturities of other borrowings at December 31, 2011 were as follows:
|  | (in thousands) |
2012 |  | $ | 5,022 |
2013 |  |  | 5,024 |
2014 |  |  | 25 |
2015 |  |  | 27 |
2016 |  |  | 3,002 |
2017 and thereafter |  |  | 6,000 |
|  | $ | 19,100 |

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