Securities Sold Under Agreements to Repurchase and Other Short-Term Borrowings

12 Months Ended

Dec. 31, 2013

Securities Sold under Agreements to Repurchase and Other Short-Term Borrowings

Securities Sold Under Agreements to Repurchase and Other Short-Term Borrowings

(10) Securities Sold Under Agreements to Repurchase and Other Short-Term Borrowings

Securities sold under agreements to repurchase are a funding source of Bancorp and are primarily used by commercial customers in conjunction with collateralized corporate cash management accounts.  Such repurchase agreements are considered financing agreements and generally mature within one business day from the transaction date. Information concerning securities sold under agreements to repurchase is summarized as follows:

	December 31,
(Dollars in thousands)	2013			2012
Average balance during the year	$	60,737		$	59,861
Average interest rate during the year	0.24		%	0.30		%
Maximum month-end balance during the year	$	68,383		$	64,582