SHORT-TERM BORROWINGS

12 Months Ended

Dec. 31, 2014

SHORT-TERM BORROWINGS [Abstract]

SHORT-TERM BORROWINGS

NOTE G - SHORT-TERM BORROWINGS

(DOLLARS IN THOUSANDS)

Short-term borrowings consist of Federal funds purchased that mature one business day from the transaction date, overnight borrowings from the Federal Reserve Discount Window, and FHLB advances with a term of less than one year.

A summary of short-term borrowings is as follows for the years ended December 31, 2014, 2013, and 2012:  

	2014			2013			2012
		$			$			$
Total short-term borrowings outstanding at year end		—			3,900			—
Average interest rate at year end		—			0.35	%		—
Maximum outstanding at any month end		7,260			5,527			10,300
Average amount outstanding for the year		5,513			1,637			1,250
Weighted-average interest rate for the year		0.19	%		0.14	%		0.21	%

As of December 31, 2014, the Corporation had approved unsecured Federal funds lines of $32 million. The Corporation also has the ability to borrow through the FRB Discount Window. The amount of borrowing available through the Discount Window was $29.6 million as of December 31, 2014. For further information on borrowings from the FHLB see Note H.