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FEDERAL FUNDS PURCHASED
 12 Months Ended
Dec. 31, 2012
FEDERAL FUNDS PURCHASED  
FEDERAL FUNDS PURCHASED

14.                               FEDERAL FUNDS PURCHASED

 

Federal funds purchased generally mature within one business day to six months from the transaction date. Federal funds purchased are included in other borrowings.

 

The following table provides information on Federal funds purchased for the periods indicated:

 

 

 

 

As of and for the Year Ended December 31,

 

 

 

 

2012

 

 

 

2011

 

 

 

2010

 

 

 

 

(Dollars in thousands)

 

Balance at end of year

 

 

$

—

 

 

 

$

—

 

 

 

$

22

 

Average balance outstanding during the year

 

 

$

2,227

 

 

 

$

3,496

 

 

 

$

871

 

Maximum balance outstanding at any month-end

 

 

$

60,000

 

 

 

$

100,000

 

 

 

$

6,023

 

Weighted average interest rate during the year

 

 

0.09

%

 

 

0.10

%

 

 

0.20

%

Weighted average interest rate at end of year

 

 

—

%

 

 

—

%

 

 

0.15

%

 

As a means of augmenting its liquidity, the Company has established Federal funds lines with several correspondent banks. The Company’s available borrowing capacity from Federal funds line facilities amounted to $588.0 million and $563.0 million as of December 31, 2012 and 2011, respectively.