Note 7 - Federal Funds Purchased and Other Short-term Borrowings

12 Months Ended

Dec. 31, 2011

Short-term Debt [Text Block]

7. Federal Funds Purchased and Other Short-term Borrowings

Federal funds purchased and other short-term borrowings represent borrowings with an original maturity of less than one year. Substantially all of the total short-term borrowings are made up of federal funds purchased and securities sold under agreements to repurchase, which represents borrowings that generally mature one business day following the date of the transaction. Information on federal funds purchased and other short-term borrowings is as follows:

December 31, (Dollars in thousands)	2011			2010
Federal funds purchased and securities sold under agreement to repurchase	$	27,022		$	46,989
Other					420
Total short-term	$	27,022		$	47,409
Average balance during the year	$	38,043		$	46,483
Maximum month-end balance during the year		72,810			76,848
Average interest rate during the year		.50	%		.70	%
Average interest rate at year-end		.53			.56