Federal Home Loan Bank Borrowings and Federal Funds Purchased

12 Months Ended

Dec. 31, 2012

Federal Home Loan Bank Borrowings and Federal Funds Purchased [Abstract]

Federal Home Loan Bank Borrowings and Federal Funds Purchased

(12)  Federal Home Loan Bank Borrowings and Federal Funds Purchased

A credit line has been established by the FHLB for the Bank. At December 31, 2012, the line of credit available to the Bank was $153.0 million. The Bank may borrow from the FHLB in amounts up to 9% of its total assets, subject to certain restrictions and collateral, with interest payable at the then stated rate. Advances on the line are collateralized by securities pledged and held in safekeeping by the FHLB, as well as supported by eligible real estate loans. As of December 31, 2012, collateral consisted almost entirely of eligible real estate loans in the amount of $238.6 million.

The Company also uses lines of credit at correspondent banks to purchase federal funds for short-term funding. There were no outstanding borrowings at December 31, 2012 and 2011. Available borrowings under these lines of credit totaled $35.0 million at December 31, 2012 and 2011.

(dollars in thousands)	December 31,
	2012		2011
Year to date average balance	$	61	$	3
Maximum amount outstanding at any month end		-		-
Weighted average interest rate on amount outstanding at year end		-		-