SHORT-TERM BORROWINGS:

12 Months Ended

Dec. 31, 2014

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, 2014 and 2013 is presented below:

(Dollar amounts in thousands)	2014		2013
Federal funds purchased	$	21,192	$	30,679
Repurchase-agreements	26,823		28,913
	$	48,015	$	59,592

(Dollar amounts in thousands)	2014			2013
Average amount outstanding	$	45,697		$	37,990
Maximum amount outstanding at a month end	96,452			83,452
Average interest rate during year	0.22		%	0.20		%
Interest rate at year-end	0.20		%	0.12		%

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.