Note 7 - Federal Funds Purchased and Other Short-term Borrowings

12 Months Ended

Dec. 31, 2012

Short-term Debt [Text Block]

7.  Federal Funds Purchased and Other Short-term Borrowings

Federal funds purchased and other short-term borrowings represent borrowings with an original maturity of less than one year. All of the Company’s short-term borrowings are made up of federal funds purchased and securities sold under agreements to repurchase, which represent borrowings that generally mature one business day following the date of the transaction. Information on federal funds purchased and other short-term borrowings is as follows:

December 31, (Dollars in thousands)	2012			2011
Federal funds purchased and securities sold under agreement to repurchase	$	24,083		$	27,022
Total short-term	$	24,083		$	27,022
Average balance during the year	$	26,134		$	38,043
Maximum month-end balance during the year		31,632			72,810
Average interest rate during the year		.37	%		.50	%
Average interest rate at year-end		.29			.53