BORROWINGS

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements [Abstract]

BORROWINGS

NOTE 11 – BORROWINGS

Long-term borrowings at December 31 consisted of:

	2011		2010
	(in thousands)
Federal Home Loan Bank of Indianapolis Notes, 3.21%, Due May 5, 2014	$	15,000	$	15,000
Federal Home Loan Bank of Indianapolis Notes, 6.15%, Due January 15, 2018		40		41
Total	$	15,040	$	15,041

Long-term borrowings mature over each of the next five years as follows:

	(in thousands)
2012	$	0
2013		0
2014		15,000
2015		0
2016		0

Other short-term borrowings at December 31 consisted of:

	2011		2010
	(in thousands)
Federal Home Loan Bank of Indianapolis Notes, 0.50%, Due June 28, 2011	$	0	$	30,000

All FHLB notes require monthly interest payments and were secured by residential real estate loans and securities with a carrying value of $283.7 million and $309.6 million at December 31, 2011 and 2010. At December 31, 2011, the Company owned $7.3 million of FHLB stock, which also secures debts to the FHLB. The Company is authorized to borrow up to $800.0 million at the FHLB. Federal Reserve Discount Window borrowings were secured by commercial loans with a carrying value of $324.7 million as of December 31, 2011. The Company had a borrowing capacity of $224.1 million at the Federal Reserve at December 31, 2011.