Other Short Term Borrowings

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements [Abstract]

Short-term Debt [Text Block]

Note 19– Other short-term borrowings

The following table presents a breakdown of other short-term borrowings at December 31, 2011 and 2010.

(In thousands)	2011		2010
Advances with the FHLB paying interest at maturity, at fixed rates of 0.31% (2010 - 0.36% to 0.44%)	$	295,000	$	300,000
Term funds purchased paying interest at maturity, at fixed rates from 1.15% to 1.25%		-		52,500
Securities sold not yet purchased		-		10,459
Others		1,200		1,263
Total other short-term borrowings	$	296,200	$	364,222

The maximum aggregate balance outstanding at any month-end was approximately $ 391 million (2010 - $364million; 2009 - $205 million). The weighted average interest rate of other short-term borrowings at December 31, 2011 was 0.35% (2010 –0.54%; 2009 –2.74%). The average aggregate balance outstanding during the year was approximately $ 149 million (2010- $45million; 2009 -$43million). The weighted average interest rate during the year was 0.55% (2010– 1.13%; 2009 – 0.95%).

Note 20presents additional information with respect to available credit facilities.