Other Borrowings

12 Months Ended

Dec. 31, 2011

NOTE 11. OTHER BORROWINGS

Other borrowings consist of the following:


	December 31,
	2011		2010
	(Dollars in Thousands)
Convertible advance from Federal Home Loan Bank due January 18, 2011 with an effective weighted-average rate of 1.03%.	$	—	$	12,014
Convertible advances from Federal Home Loan Bank due at various dates through March 2013 with an effective weighted-average rate of 1.05% and 1.03%.		7,953		31,481
Fixed rate advances from Federal Home Loan Bank due at various dates through April 2016 with an effective weighted average rate of 1.05%.		3,301		—
Advances from Federal Home Loan Bank with interest at fixed rates (weighted average rate of 1.05%) convertible to a variable rate at the option of the lender, due at various dates through April 2016.		8,746		—

	$	20,000	$	43,495

The advances from the Federal Home Loan Bank ("FHLB") are collateralized by a blanket lien on all first mortgage loans and other specific loans in addition to FHLB stock. At December 31, 2011, $59.0 million was available for borrowing on lines with the FHLB.

As of December 31, 2011, the Company maintained credit arrangements with various financial institutions to purchase federal funds up to $60 million.

The Company also participates in the Federal Reserve discount window borrowings. At December 31, 2011, the Company had $333.3 million of loans pledged at the Federal Reserve discount window and had $237.9 million available for borrowing.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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