XML 80 R18.htm IDEA: XBRL DOCUMENT v2.4.0.6
Short-term Borrowings
 12 Months Ended
Dec. 31, 2012
Short-term Debt:  
Short-term Debt Text Block

NOTE 10: SHORT-TERM BORROWINGS

 

At December 31, 2012, 2011, and 2010, the composition of short-term borrowings is presented below.

 

 2012  2011  2010
    Weighted     Weighted     Weighted 
(Dollars in thousands) Amount Avg. Rate   Amount Avg. Rate   Amount Avg. Rate 
Federal funds purchased:                 
As of December 31$ —  —  $ —  —  $ —  — 
Average during the year 225 0.96%  6 1.00%  1,125 0.94%
Maximum outstanding at                 
any month-end 1,925      —      —   
                  
Securities sold under                  
agreements to repurchase:                 
As of December 31$2,689 0.50% $2,805 0.50% $2,685 0.50%
Average during the year 2,746 0.50%  2,416 0.50%  2,404 0.50%
Maximum outstanding at                 
any month-end 3,174     2,936     2,858   

Federal funds purchased represent unsecured overnight borrowings from other financial institutions by the Bank. The Bank had available federal fund lines totaling $40.0 million with none outstanding at December 31, 2012.

 

Securities sold under agreements to repurchase represent short-term borrowings with maturities less than one year collateralized by a portion of the Company's securities portfolio. Securities with an aggregate carrying value of $8.0 million and $4.3 million at December 31, 2012 and 2011, respectively, were pledged to secure securities sold under agreements to repurchase.