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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

$

 

 

$

 

 

$

 

Maximum amount outstanding during the year

 

97,000 

 

 

 

 

 

 

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

 

%

 

 

%

 

 

%

Demand note due U.S. Treasury

 

 

 

 

 

 

 

 

 

 

 

Amount outstanding at year end

$

 

 

$

 

 

$

2,964 

 

Maximum amount outstanding during the year

 

 

 

 

3,013 

 

 

 

3,330 

 

Average amount outstanding during the year

 

 

 

 

1,794 

 

 

 

1,414 

 

Weighted average-rate during the year

 

%

 

 

%

 

 

%

Weighted average rate at year-end

 

%

 

 

%

 

 

%

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 

%