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OTHER BORROWINGS
 12 Months Ended
Dec. 31, 2013
OTHER BORROWINGS  
OTHER BORROWINGS

NOTE 11 — OTHER BORROWINGS

December 31
   2013
   2012
  
   

Other borrowings consisted of the following at year-end:

              

Securities sold under repurchase agreements

   $ 29,394   $ 25,794  

Federal funds purchased

     9,200     8,725  
       
​ ​ ​ ​ ​ ​ ​ ​

Total other borrowings

   $ 38,594   $ 34,519  
       
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
       

       Securities sold under repurchase agreements ("agreements") consist of obligations secured by securities issued by government-sponsored entities, and a safekeeping agent holds such collateral. The balance at December 31, 2013 and 2012 was $29,394 and $25,794 respectively. The majority of the agreements at December 31, 2013 mature within 30 days.

       Information concerning securities sold under agreements to repurchase is summarized as follows:

 
   2013
   2012
   2011
  
   

Average daily balance during the year

   $ 29,132   $ 28,243   $ 30,404  

Average interest rate during the year

     0.17 %   0.34 %   0.52 %

Maximum month-end balance during the year

   $ 31,479   $ 30,974   $ 40,960  

Weighted average interest rate at year-end

     0.18 %   0.20 %   0.44 %