Short-Term Borrowings

12 Months Ended

Dec. 31, 2012

Disclosure Short Term Borrowings Additional Information [Abstract]

Short-Term Borrowings

Short-Term Borrowings

The Bank has a line of credit for advances and discounts with the Federal Reserve Bank of Cleveland. The amount of this line of credit varies on a monthly basis. The line is equal to 50% of the balances of qualified home equity lines of credit that are pledged as collateral. At December 31, 2012, the Bank had pledged approximately $86,070 in qualifying home equity lines of credit, resulting in an available line of credit of approximately $43,035. No amounts were outstanding under the line of credit at December 31, 2012 or December 31, 2011. The Corporation also has a $6,000 line of credit with an unaffiliated financial institution. No amounts were outstanding under this line of credit at December 31, 2012 and December 31, 2011.

Short-term borrowings include securities sold under repurchase agreements and Federal funds purchased from correspondent banks. At December 31, 2012 and 2011, the outstanding balance of securities sold under repurchase agreements totaled $1,115 and $227, respectively. No Federal funds were purchased as of December 31, 2012 and 2011.