BORROWINGS

12 Months Ended

Dec. 31, 2012

Long-Term Debt and Capital Lease Obligations [Abstract]

Long-term Debt [Text Block]

NOTE 11 – BORROWINGS

Long-term borrowings at December 31 consisted of:

	2012		2011
	(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		38		40
Total	$	15,038	$	15,040

Long-term borrowings mature as follows:

	(in thousands)
2013	$	0
2014		15,000
2015		0
2016		0
2017		0
Thereafter		38

There were no other short-term borrowings outstanding at December 31, 2012 and 2011.

All FHLB notes require monthly interest payments and were secured by residential real estate loans and securities with a carrying value of $244.6 million and $283.7 million at December 31, 2012 and 2011. At December 31, 2012, the Company owned $7.3 million of FHLB stock, which also secures debts owed 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 $291.9 million as of December 31, 2012. The Company had a borrowing capacity of $207.8 million at the Federal Reserve at December 31, 2012. There were no borrowings outstanding at the Federal Reserve Bank at December 31, 2012 and 2011.