Short-Term Borrowings

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Short-Term Borrowings

Short-Term Borrowings

(In Thousands)

Short-term borrowings as of December 31 are summarized as follows:

	2014		2013
Securities sold under agreements to repurchase	$	6,103	$	2,061
Fed Funds purchased	26,300		222
Total short-term borrowings	$	32,403	$	2,283

The average balances and cost of funds of short-term borrowings for the years ending December 31 are summarized as follows:

	Average Balances						Cost of Funds
	2014		2013		2012		2014		2013		2012
Federal funds purchased	$	17,899	$	8,072	$	4,346	0.17	%	0.17	%	0.15	%
Securities sold under agreements to repurchase	4,334		5,107		8,031		0.15		0.17		0.18
Total short-term borrowings	$	22,233	$	13,179	$	12,377	0.17	%	0.17	%	0.17	%

The Company maintains lines of credit with correspondent banks totaling $75,000 at December 31, 2014. Interest is charged at the market federal funds rate on all advances. There were no amounts outstanding under these lines of credit at December 31, 2014 or 2013.