Subsequent Event

9 Months Ended

Sep. 30, 2011

Subsequent Event [Abstract]

Subsequent Event

Note 12: Subsequent Event

On November 8, 2011, in a series of transactions, the Company sold approximately $28.1 million of available-for-sale securities for a realized gain of approximately $1.3 million.  The proceeds were used to prepay two repurchase agreements totaling $14.75 million, incurring a prepayment penalty of approximately $1.5 million.  The excess cash generated from these transactions will be used to purchase new investment securities.  The transactions allow the Company to significantly reduce higher cost, non-core funding liabilities and to reduce the Company's interest rate risk position.  After the transaction, the Company had $25.0 million in repurchase agreements remaining bearing a fixed weighted average rate of 2.60%.