SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

12 Months Ended

Dec. 31, 2013

Banking and Thrift [Abstract]

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

NOTE 9 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

Salisbury enters into overnight and short-term repurchase agreements with its customers. Securities sold under repurchase agreements are as follows:

Years ended December 31, (dollars in thousands)		2013			2012
Repurchase agreements, ending balance	$	2,554		$	1,784
Repurchase agreements, average balance during period		3,035			5,879
Book value of collateral		11,020			9,942
Market value of collateral		11,106			10,128
Weighted average rate during period		0.19	%		0.39	%
Weighted average maturity		1 day			1 day