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Other Borrowings | 12 Months Ended
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Dec. 31, 2013
Other Borrowings [Abstract] |
Other Borrowings | Note 11 – Other borrowings Short-term borrowings consist of the following at December 31, 2013 and 2012:
(dollars in thousands) | As of December 31,
Short Term: | 2013 |  | 2012
Securities sold under agreements to repurchase |  |  |
Balance at end of year | $ - |  | $ -
Maximum month-end outstanding balance | $ - |  | $ 8,498
Average outstanding balance during the year | - |  | 1,638
Average interest rate during the year | - |  | 0.92%
Average interest rate at end of year | - |  | -
Federal funds purchased |  |  |
Maximum month-end outstanding balance | $ 4,108 |  | $ -
Average outstanding balance during the year | $ 204 |  | $ -
Average interest rate during the year | 0.49% |  | -
Average interest rate at end of year | 0.50% |  | -
Short-term borrowings consist of securities sold under agreements to repurchase, which are secured transactions with customers and generally mature the day following the date sold. Short-term borrowings may also include Federal funds purchased, which are unsecured overnight borrowings from other financial institutions. The Dodd-Frank Act repealed the federal prohibition on the payment of interest on commercial demand deposits. As a result, the Bank discontinued offering sweep accounts (repurchase agreements) to its commercial customers during the second quarter of 2012 and these accounts were reclassified as interest-bearing checking accounts. Unsecured federal fund lines and their respective limits are maintained with the following institutions: Community Bankers’ Bank, $11,000, Zions Bank, $4,000, PNC Bank, $6,000 and Suntrust Bank, $3,000. In addition, the Bank maintains a $3,000 reverse repurchase agreement with Suntrust whereby securities may be pledged as collateral in exchange for funds for a minimum of 30 days with a maximum of 90 days. The Bank also maintains a secured federal funds line with Community Bankers’ Bank whereby it may pledge securities as collateral with no specified minimum or maximum amount or term. The Bank is also a member of the Federal Home Loan Bank of Atlanta (“FHLBA”). The Bank’s available credit through the FHLBA is $87,110 as of December 31, 2013, the most recent calculation. Of this amount the Bank has borrowed $2,000 under the following terms: Note 11 – Other borrowings (continued)
| Amount | Type | Rate | Ultimate Maturity Date
| $ 2,000 | Fixed rate credit | 3.785% | 4/15/2015

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 16 -Article 7 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 13 -Article 9 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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