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Other Borrowings
3 Months Ended
Mar. 31, 2012
Other Borrowings [Abstract]  
Other Borrowings
Note 6. Other Borrowings

The Bank had unused lines of credit totaling $94.0 million available with non-affiliated banks at March 31, 2012. 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 March 31, 2012, the Bank had borrowings from the FHLB system totaling $14.0 million which mature through December 28, 2018. The interest rate on these notes payable ranged from 1.47% to 2.04% and the weighted average rate was 1.81%. The Bank also had a letter of credit from the FHLB totaling $30.0 million at March 31, 2012. The Bank had collateral pledged on these borrowings and letter of credit, including real estate loans totaling $110.1 million and FHLB stock with a book value of $1.9 million.

At March 31, 2012, the Bank had a $94 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%.