Short-term Borrowings

9 Months Ended

Sep. 30, 2014

Short-term Borrowings [Abstract]

Short-term Borrowings

Note 6 – Short-term Borrowings

As of September 30, 2014, the Company has established lines of credit aggregating $60.0 million. At September 30, 2014, the outstanding borrowings under these credit lines were $30.5 million at a weighted average interest rate of 1.47%.

The weighted average daily amounts of borrowings outstanding under the Company's credit lines and the weighted average interest rates on those amounts were as follows:

	(In Thousands)
	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2014			2013				2014			2013
Average Daily Amounts Outstanding	$	28,832		$	28,608			$	27,906		$	27,472
Weighted Average Interest Rates		1.44	%		1.32	%			1.44	%		1.35	%

The maturity dates for the $30.5 million outstanding as of September 30, 2014 are all in October 2014 and are extendable at the discretion of the Company.

Interest rates for short-term borrowings under the lines of credit are below the prime rate with no requirement for compensating balances.