Short-Term Borrowings

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Short-Term Borrowings

NOTE 15. SHORT-TERM BORROWINGS

Short-term borrowings are for terms under one year and were comprised of retail repurchase agreements, or REPOs, and FHLB advances. We define REPOs with our local retail customers as retail REPOs. Securities pledged as collateral under these REPO financing arrangements cannot be sold or repledged by the secured party and are therefore accounted for as a secured borrowing. FHLB advances are for various terms secured by a blanket lien on residential mortgages and other real estate secured loans.

The following table represents the composition of short-term borrowings, the weighted average interest rate as of December 31 and interest expense for the years ended December 31:

	2013						2012						2011
(dollars in thousands)	Balance		Weighted Average Interest Rate		Interest Expense		Balance		Weighted Average Interest Rate		Interest Expense		Balance		Weighted Average Interest Rate		Interest Expense
REPOs	$	33,847		0.01%	$	62	$	62,582		0.20%	$	82	$	30,370		0.11%	$	53
FHLB advances		140,000		0.30%		279		75,000		0.19%		123		75,000		0.18%		2
Total Short-term Borrowings	$	173,847		0.24%	$	341	$	137,582		0.19%	$	205	$	105,370		0.16%	$	55

We had a $5.0 million line of credit with S&T Bank secured by investments of another subsidiary of S&T, which was closed in April 2012.