Securities Sold Under Agreements To Repurchase

12 Months Ended

Dec. 31, 2011

Securities Sold Under Agreements To Repurchase [Abstract]

Securities Sold Under Agreements To Repurchase

NOTE 15. SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

The following table presents information regarding securities sold under agreements to repurchase at December 31, 2011 and 2010:

(dollars in thousands)
	Repurchase Amount		Weighted Average Interest Rate			Carrying Value of Underlying Assets		Market Value of Underlying Assets
December 31, 2011	$	124,605		0.35	%	$	129,810	$	129,810
December 31, 2010	$	73,759		0.66	%	$	75,305	$	75,305

The securities underlying agreements to repurchase entered into by the Bank are for the same securities originally sold, with a one-day maturity. In all cases, the Bank maintains control over the securities. Securities sold under agreements to repurchase averaged approximately $113.1 million, $54.7 million, and $60.7 million for the years ended December 31, 2011, 2010 and 2009, respectively. The maximum amount outstanding at any month end for the years ended December 31, 2011, 2010 and 2009 was $148.2 million, $73.8 million, and $64.3 million, respectively. Investment securities are pledged as collateral in an amount equal to or greater than the repurchase agreements.