Securities Sold under Agreements to Repurchase

12 Months Ended

Dec. 31, 2012

Securities Sold under Agreements to Repurchase [Abstract]

Securities Sold Under Agreements to Repurchase

Note 7 - Securities Sold under Agreements to Repurchase 

Securities sold under agreements to repurchase generally mature within a few days from the transaction date and are reflected at the amount of cash received in connection with the transaction. The securities are retained under the Company’s control at its safekeeping agent. The Company adjusts collateral based on the fair value of the underlying securities, on a monthly basis. Information concerning securities sold under agreements to repurchase for the years ended December 31, 2012 and 2011 is summarized as follows: 

	2012			2011
	(Dollars In Thousands)
Balance outstanding at December 31	$	24,452		$	33,953
Weighted average interest rate at the end of the year		0.10	%		0.25	%
Average daily balance during the year	$	31,638		$	38,100
Weighted average interest rate during the year		0.20	%		0.46	%
Maximum month-end balance during the year	$	40,842		$	51,043