Short-term Borrowings

6 Months Ended

Jun. 30, 2015

Note 6 – Short-term Borrowings

As of June 30, 2015, the Company has established lines of credit aggregating $60.0 million. At June 30, 2015, the outstanding borrowings under these credit lines were $18.0 million at a weighted average interest rate of 1.19%.

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				Six Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
Average Daily Amounts Outstanding	$	15,769	$	26,874	$	16,834	$	$27,435
Weighted Average Interest Rates		1.18%		1.42%		1.18%		1.44%

The maturity dates for the $18.0 million outstanding as of June 30, 2015 are all in July 2015 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.