Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2011

Cash and Cash Equivalents

Cash and Cash Equivalents

5. Cash and Cash Equivalents

Cash and due from banks, which represents vault cash in the retail offices and invested cash balances at the Federal Reserve, is carried at fair value.

	December 31,
(In thousands)	2011		2010
Cash and due from banks, weighted average interest rate of 0.14% (at December 31, 2011)	$	52,049	$	184,830

Interest bearing deposits in banks, which represent funds invested at a correspondent bank, are carried at fair value and, as of December 31, 2011 and 2010, consisted of daily funds invested at the FHLB of Atlanta, First Tennessee Bank ("FTN"), M&T Bank ("M&T"), and CBB.

	December 31,
(In thousands)	2011		2010
FHLB daily investments, interest rate of 0.01% (at December 31, 2011)	$	4,244	$	77,102
FTN daily investments, interest rate of 0.04% (at December 31, 2011)		1,350		1,350
M&T Fed Funds sold, interest rate of 0.25% (at December 31, 2011)		6,379		6,004
CBB Fed Funds sold, interest rate of 0.21% (at December 31, 2011)		1,085		30,027
	$	13,058	$	114,483