Short-Term Borrowings

12 Months Ended

Dec. 31, 2011

Short-Term Borrowing[Abstract]

Short-Term Borrowings

Note 8: Short-term Borrowings

The Company's short-term borrowings consist of borrowings from the Federal Home Loan Bank (the "FHLB"), borrowings from the Federal Reserve Bank ("FRB") and securities sold under agreements to repurchase. The following table summarizes short-term borrowings at December 31, 2011 and 2010.

	2011				2010
	Total Principal		Weighted Average Rate		Total Principal		Weighted Average Rate
Federal Home Loan Bank Advances	$	151,185	1.17	%	$	89,573	2.73	%
Fed Funds Purchased		2,750	0.25	%		9,450	0.25	%
Securities sold under agreements to repurchase		21,878	0.41	%		20,857	0.82	%
Total short-term borrowings	$	175,813			$	119,880

Federal Home Loan Bank Borrowings: Information concerning short-term Federal Home Loan Bank borrowings for 2011 and 2010 is summarized below:

	2011		2010
Average daily balance during the year	$	123,421	$	69,829
Maximum month-end balance during the year	$	157,488	$	89,573
Amount outstanding at end of year	$	151,185	$	89,573

All short-term FHLB advances are fixed-rate instruments. Pursuant to an agreement with the FHLB, advances are collateralized by stock in the FHLB, investment securities and a blanket lien on qualified collateral, consisting primarily of loans with first mortgages secured by one to four family properties, and other qualifying assets. All short-term advances are payable at their call date or final maturity.

Securities Sold Under Agreements to Repurchase: Securities sold under agreements to repurchase generally mature within one to four days from the transaction date. Information concerning securities sold under agreements to repurchase for 2011 and 2010 is summarized below:

	2011			2010			2009
Average daily balance during the year	$	17,221		$	19,498		$	18,062
Average interest rate during the year		0.55	%		1.06	%		1.64	%
Maximum month-end balance during the year	$	21,878		$	25,190		$	22,025
Amount outstanding at end of year	$	21,878		$	20,857		$	20,643

Securities collateralizing repurchase agreements, which are held in safekeeping by nonaffiliated financial institutions and not under the Bank's control, were as follows at December 31:

Carrying value	$	38,716	$	30,083	$	31,373
Estimated fair value	$	40,262	$	30,736	$	32,826