Securities Sold Under Agreements to Repurchase and Other Short-Term Debt

12 Months Ended

Dec. 31, 2012

Securities Sold Under Agreements to Repurchase and Other Short-Term Debt [Abstract]

Securities Sold Under Agreements to Repurchase and Other Short-Term Debt

NOTE 7: SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER SHORT-TERM DEBT

FHLBB short term borrowings and Securities sold under agreements to repurchase mature daily. Securities sold under agreements to repurchase are collateralized by mortgage backed securities and collateralized mortgage backed obligations. We maintain effective control over the securities underlying the agreements.

As of December 31, 2012, we could borrow up to $45.00 million in overnight funds through unsecured borrowing lines established with correspondent banks. We have established both overnight and longer term lines of credit with the FHLBB. The borrowings are secured by residential mortgage loans. The total amount of loans pledged to the FHLBB for both short and long-term borrowing arrangements totaled $342.56 million and $225.86 million at December 31, 2012 and 2011, respectively. We have $232.34 million in additional short or long-term borrowing capacity with FHLBB. We also have the ability to borrow short-term or long-term through the use of repurchase agreements, collateralized by our investments, with certain approved counterparties.

The following table provides certain information regarding other borrowed funds for the three years ended December 31, 2012, 2011 and 2010:

(In thousands)	2012			2011			2010
FHLBB short-term borrowings
Amount outstanding at year end	$	0		$	0		$	0
Maximum amount outstanding during the year		97,000			0			13,000
Average amount outstanding during the year		38,290			359			1,316
Weighted average-rate during the year		0.28	%		0.28	%		0.31	%
Weighted average rate at year-end		0	%		0	%		0	%
Demand note due U.S. Treasury
Amount outstanding at year end	$	0		$	0		$	2,964
Maximum amount outstanding during the year		0			3,013			3,330
Average amount outstanding during the year		0			1,794			1,414
Weighted average-rate during the year		0	%		0	%		0	%
Weighted average rate at year-end		0	%		0	%		0	%
Securities sold under agreement to repurchase
Amount outstanding at year end	$	287,520		$	262,527		$	224,693
Maximum amount outstanding during the year		303,420			266,897			224,693
Average amount outstanding during the year		230,281			217,823			172,165
Weighted average-rate during the year		0.73	%		0.95	%		0.94	%
Weighted average rate at year-end		0.47	%		0.91	%		1.01	%