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COMMITMENTS

12 Months Ended

Dec. 31, 2011

NOTE 17 — COMMITMENTS

Some financial instruments, such as loan commitments, credit lines, letters of credit, and overdraft protection, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment.

Financial instruments whose contract amount represents credit risk as of December 31 were as follows:

	2011				2010

	Fixed Rate		Variable Rate		Fixed Rate		Variable Rate

Commitments to extend credit and unused lines of credit	$	2,661	$	352,774	$	4,018	$	301,331
Commercial letters of credit		—		26,062		—		22,016

Commitments to make loans are generally made for periods of 60 days or less. Interest rates on fixed rate commitments range from 5.00% to 19.8% with maturities ranging from 1 year to 9 years.

- Definition

The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.

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