Note 8 - Federal Funds Purchased and Other Short-term Borrowings

12 Months Ended

Dec. 31, 2015

Disclosure Text Block [Abstract]

Short-term Debt [Text Block]

8. Federal Funds Purchased and Other Short-term Borrowings

Federal funds purchased and other short-term borrowings represent borrowings with an original maturity of one year or less. All of the Company’s short-term borrowings are made up of federal funds purchased and securities sold under agreements to repurchase, which represent 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)	2015			2014
Federal funds purchased and securities sold under agreement to repurchase	$	34,353		$	28,590
Total short-term	$	34,353		$	28,590
Average balance during the year	$	31,580		$	30,428
Maximum month-end balance during the year		39,474			33,568
Average interest rate during the year		.16	%		.18	%
Average interest rate at year-end		.24			.16

Refer to Note 9 for a summary that includes short-term repurchase agreements disaggregated by the class of securities pledged.