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Securities Sold Under Agreements to Repurchase | 12 Months Ended
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Dec. 31, 2011
Securities Sold Under Agreements to Repurchase [Abstract] |
Securities Sold Under Agreements to Repurchase | NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note F - Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are financing arrangements that have overnight maturity terms. At maturity, the securities underlying the agreements are returned to the Company. Newly enacted banking regulations during the third quarter of 2011 permitted the Company to begin paying interest on its business checking accounts and contributed to the decrease in securities sold under agreements to repurchase balances. Information concerning securities sold under agreements to repurchase is summarized as follows at December 31:
Balance outstanding at period-end |  | $ | ---- |  |  | $ | 38,107 |
Weighted average interest rate at period-end |  |  | .00 | % |  |  | .15 | %
Average amount outstanding during year |  | $ | 19,196 |  |  | $ | 26,991 |
Approximate weighted average interest rate |  |  |  |  |  |  |  |
during the year |  |  | .09 | % |  |  | .21 | %
Maximum amount outstanding as of any month-end |  | $ | 36,680 |  |  | $ | 38,107 |
Securities underlying these agreements at year-end were as follows: |  |  |  |  |  |  |  |
Carrying value of securities |  | $ | ---- |  |  | $ | 49,436 |
Fair value |  | $ | ---- |  |  | $ | 49,552 |

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- Definition The entire disclosure for the carrying value as of the balance sheet date of securities that an institution sells and agrees to repurchase (the identical or substantially the same securities) as a seller-borrower at a specified date for a specified price, also known as a repurchase agreement, or repo. + References No definition available. + Details
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- Details
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