Short-term Borrowings

12 Months Ended

Dec. 31, 2013

Short-term Debt [Abstract]

Short-term Borrowings

Short-term Borrowings

Short-term borrowings at December 31 were as follows:

	2013						2012						2011
	Ending Balance		Average Balance		Average Rate		Ending Balance		Average Balance		Average Rate		Ending Balance		Average Balance		Average Rate
	(dollars in thousands)
Federal funds purchased	$	16,000	$	11,982	0.36	%	$	34,000	$	47,727	0.27	%	$	75,300	$	15,642	0.26	%
Borrowings from FHLB	478,100		335,449		0.27		178,100		214,703		0.25		84,000		7,537		0.21
Securities sold under agreements to repurchase	132,515		130,957		0.25		144,127		139,766		0.28		153,477		155,551		0.43
Treasury, tax and loan note option	—		—		—		—		—		—		—		4,134		—
Total	$	626,615	$	478,388	0.26		$	356,227	$	402,196	0.27		$	312,777	$	182,864	0.40
Maximum total at any month-end	$	626,615					$	486,144					$	312,777
Weighted average rate at year-end					0.27	%					0.25	%					0.28	%

Interest expense on short-term borrowings for the years ended December 31 is detailed below:

	2013		2012		2011
	(dollars in thousands)
Federal funds purchased	$	43	$	128	$	41
Borrowings from FHLB	893		545		16
Securities sold under agreements to repurchase	326		397		671
Total interest on short-term borrowings	$	1,262	$	1,070	$	728