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Other Borrowings

12 Months Ended

Dec. 31, 2012

Note 8. Other Borrowings

The Bank had unused lines of credit totaling $105.4 million and $96.8 million available with non-affiliated banks at December 31, 2012 and 2011, 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. The unused line of credit with FHLB totaled $65.2 million at December 31, 2012.

At December 31, 2012 and 2011, the Bank had borrowings from the Federal Home Loan Bank system totaling $6.0 million and $19.0 million, respectively, which mature through December 28, 2018. The interest rate on these borrowings ranged from 1.78% to 2.04% and the weighted average rate was 1.91% at December 31, 2012. 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, 2012 and 2011, respectively. The Bank had collateral pledged on these borrowings and letter of credit at December 31, 2012 and 2011 including real estate loans totaling $100.0 million and $107.8 million, respectively, and Federal Home Loan Bank stock with a book value of $1.1 million and $1.9 million, respectively.

At December 31, 2012 and 2011, the Bank had a $76 thousand and $100 thousand, respectively, 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, 2012 were as follows:


	(in thousands)
2013	$	25
2014		25
2015		26
2016		—
2017		3,000
2018 and thereafter		3,000

	$	6,076