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Other Borrowings
9 Months Ended
Sep. 30, 2012
Other Borrowings [Abstract]  
Other Borrowings

Note 6. Other Borrowings

The Bank had unused lines of credit totaling $98.8 million available with non-affiliated banks at September 30, 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 September 30, 2012, the Bank had borrowings from the FHLB system totaling $6.0 million which mature through December 28, 2018. The interest rate on these notes payable ranged from 1.78% to 2.04% and the weighted average rate was 1.91%. The Bank also had a letter of credit from the FHLB totaling $30.0 million at September 30, 2012. The Bank had collateral pledged on these borrowings and letter of credit, including real estate loans totaling $101.6 million and FHLB stock with a book value of $1.1 million.

At September 30, 2012, the Bank had an $82 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%.