Short-Term Borrowings

12 Months Ended

Dec. 31, 2011

Short-Term Borrowings

Short-Term Borrowings

Note 9 - Short-Term Borrowings

	Securities sold under agreements to			Other short-term
December 31,	repurchase (a)			borrowings(b)
2011
Balance	$	24,021			-
Maximum indebtedness at any month end		31,248		$	600
Daily average indebtedness outstanding		25,319			488
Average rate paid for the year		0.77	%		0.01	%
Average rate on period-end borrowings		0.52			-
2010
Balance	$	29,186		$	600
Maximum indebtedness at any month end		34,784			853
Daily average indebtedness outstanding		27,156			502
Average rate paid for the year		0.99	%		0.05	%
Average rate on period-end borrowings		0.89			-

  ^(a)   Securities sold under agreements to repurchase mature overnight. The repurchase agreements were collateralized by U.S. Government mortgage-backed securities and CMOs with an amortized cost of $30,595,000 and $36,149,000 and a fair value of $31,755,000 and $37,627,000 at December 31, 2011 and 2010, respectively. These securities are held in safekeeping at the Federal Reserve Bank.

^(b) Other short-term borrowings include Federal funds purchased, overnight borrowings from the FHLB and Treasury tax and loan notes.

The Bank has two unsecured Federal funds lines granted by correspondent banks totaling $18,000,000. Federal funds purchased under these lines were $0 at both December 31, 2011 and 2010.