SHORT-TERM BORROWINGS:

12 Months Ended

Dec. 31, 2013

Short Term Borrowings Disclosure [Abstract]

SHORT-TERM BORROWINGS

SHORT-TERM BORROWINGS:

A summary of the carrying value of the Corporation's short-term borrowings at December 31, 2013 and 2012 is presented below:

(Dollar amounts in thousands)	2013		2012
Federal funds purchased	$	30,679	$	2,750
Repurchase-agreements	28,913		37,801
	$	59,592	$	40,551

(Dollar amounts in thousands)	2013			2012
Average amount outstanding	$	37,990		$	50,499
Maximum amount outstanding at a month end	83,452			64,969
Average interest rate during year	0.20		%	0.28		%
Interest rate at year-end	0.12		%	0.21		%

Federal funds purchased are generally due in one day and bear interest at market rates. Substantially all repurchase agreement liabilities represent amounts advanced by various customers. Securities are pledged to cover these liabilities, which are not covered by federal deposit insurance. The Corporation maintains possession of and control over these securities.