Short-Term and Long-Term Borrowings

12 Months Ended

Dec. 31, 2011

Short-Term and Long-Term Borrowings [Abstract]

Short-Term and Long-Term Borrowings

 (15) Short-Term and Long-Term Borrowings

Short-term borrowings at December 31, 2011 and 2010 consisted of secured borrowings from the U.S. Treasury in the amounts of $0 and $1,529, respectively.  The funds are placed at the discretion of the U.S. Treasury and are callable on demand by the U.S. Treasury.  At December 31, 2011, the Bank had no Federal Funds purchased.

Additional short-term borrowings available to the Company consist of a line of credit and advances with the Federal Home Loan Bank (“FHLB”) secured under terms of a blanket collateral agreement by a pledge of FHLB stock and certain other qualifying collateral such as commercial and mortgage loans.  At December 31, 2011, the Company had a current collateral borrowing capacity with the FHLB of $136,509.  The Company also has unsecured formal lines of credit totaling $36,000 with correspondent banks.

Long-term borrowings consisted of FHLB advances, totaling $7,000 and $9,000, respectively, at December 31, 2011 and 2010.  Such advances mature in 0.5 years at a weighted average interest rate of 4.13% at December 31, 2011.  Maturity ranged from 0.5 years to 1.5 years at a weighted average interest rate of 4.06% at December 31, 2010.  Average outstanding balances were $7,975 and $9,975, respectively, during 2011 and 2010.  The weighted average interest rate paid was 4.09% in 2011 and 4.00% in 2010.