16. Long-Term Borrowings

The following is a summary of long-term borrowings at December 31 (in thousands):


	2013		2012
FNBB	$	110	$	220
Credit Suisse Securities (USA) LLC		55,000		55,000
Comerica		—		20,000

Total long-term borrowings	$	55,110	$	75,220

Long-term borrowings from FNBB consist of borrowings by the Employee Stock Ownership Trust in order to purchase 50,000 shares of Company stock for $550,000 on December 31, 2009. These borrowings are required to be recorded on the Company’s balance sheet, with an offsetting entry to additional paid-in capital. These borrowings mature on December 22, 2014, and bear interest at a floating rate equal to the Wall Street Journal Prime rate, which was 3.25% at December 31, 2013 and 2012. These borrowings are subject to a pledge of 10,000 and 20,000 shares of the Company stock, owned by the Trust, at December 31, 2013 and 2012, respectively.

Long-term borrowings from Credit Suisse consist of two borrowings by the Company, which are in the legal form of a long-term repurchase agreement. A $15 million borrowing matures on October 19, 2014, and bears interest at a floating rate equal to 2.03% minus the greater of 3-month USD LIBOR less 1.50% or 0%, and was 2.03% at December 31, 2013 and 2012. A $40 million borrowing matures on June 21, 2015, and bears interest at a floating rate equal to 2.83% minus the greater of three-month USD LIBOR less 2.00% or 0%, and was 2.83% at December 31, 2013. These borrowings are subject to a pledge of mortgage-backed securities with a market value of $67.0 million and $73.8 million at December 31, 2013 and 2012, respectively.

During 2013, the long-term borrowings from Comerica were paid.

Principal payments by year on these borrowings are as follows (in thousands):


2014	$	15,110
2015		40,000

Total long-term borrowings	$	55,110