XML 87 R19.htm IDEA: XBRL DOCUMENT v2.4.0.6

Long-term Debt

12 Months Ended

Dec. 31, 2012

Long-term debt:

Long-term Debt Text Block

NOTE 11: LONG-TERM DEBT

At December 31, 2012 and 2011, the composition of long-term debt is presented below.

			2012						2011
						Weighted						Weighted
(Dollars in thousands)				Amount		Avg. Rate				Amount		Avg. Rate
FHLB advances, due 2014 to 2018			$	25,000		3.42	%		$	63,096		3.93	%
Securities sold under agreements to repurchase, due 2017				15,000		4.21				15,000		4.21
Subordinated debentures, due 2033				7,217		3.38				7,217		3.38
	Total long-term debt		$	47,217		3.66	%		$	85,313		3.93	%

The Bank had $25.0 million and $63.1 million of FHLB advances with original maturities greater than one year at December 31, 2012 and 2011, respectively. Securities with an aggregate carrying value of $1.5 million and $33.0 million and certain qualifying residential mortgage loans with an aggregate carrying value of $45.5 million and $51.8 million at December 31, 2012 and 2011, respectively, were pledged to secure long-term FHLB advances.

The Bank had $15.0 million in securities sold under agreements to repurchase with an original maturity greater than one year at December 31, 2012 and 2011. Securities with an aggregate carrying value of $19.0 million at December 31, 2012 and 2011 were pledged to secure long-term securities sold under agreements to repurchase.

The Company formed Auburn National Bancorporation Capital Trust I, a wholly-owned statutory business trust, in 2003. The Trust issued $7.0 million of trust preferred securities that were sold to third parties. The proceeds from the sale of the trust preferred securities and trust common securities that we hold, were used to purchase subordinated debentures of $7.2 million from the Company, which are presented as long-term debt in the consolidated balance sheets and qualify for inclusion in Tier 1 capital for regulatory capital purposes, subject to certain limitations. The debentures mature on December 31, 2033 and may be redeemed on or after December 31, 2008.

The following is a schedule of annual maturities of long-term debt:

(Dollars in thousands)			2013		2014		2015		2016		2017		Thereafter		Total
FHLB advances		$	—		10,000		5,000		—		5,000		5,000		25,000
Securities sold under
	agreements to repurchase		—		—		—		—		15,000		—		15,000
Subordinated debentures			—		—		—		—		—		7,217		7,217
	Total long-term debt	$	—		10,000		5,000		—		20,000		12,217		47,217

X

- Details

Name:	us-gaap_LongTermDebtAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for long-term debt.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

+ Details

Name:	us-gaap_LongTermDebtTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration