Note 8 - Short Term Borrowings

12 Months Ended

Dec. 31, 2012

Short-term Debt [Text Block]

Note 8. Short Term Borrowings

Short term borrowings consist of the following at December 31, 2012 and 2011:

(Dollars In Thousands)	2012			2011
Securities sold under agreements to repurchase	$	216		$	449
Weighted average interest rate		0.51	%		0.89	%

Short term borrowings consist of securities sold under agreements to repurchase, which are secured transactions with customers and generally mature the day following the day sold. Short-term borrowings may also include federal funds purchased, which are unsecured overnight borrowings from other financial institutions. At December 31, 2012, the Bank had established $17.5 million in a federal funds line of credit.  Another $8.0 million line of credit was established and secured by Bank owned securities in safekeeping. This line is not to exceed 15% of the value of the  securities.  At year-end 2012, there was no balance outstanding on either line of credit.