Short-term Borrowings

12 Months Ended

Dec. 31, 2011

Short [Abstract]

Short-term Borrowings

Note 10 – Short-term Borrowings

Short-term borrowings consist of customer repurchase agreements, overnight borrowings from the FHLB, and Federal Funds purchased.  Customer repurchase agreements are collateralized by securities of the U.S. Government or its agencies or Government Sponsored Enterprises.  They mature daily.  The interest rates are generally fixed but may be changed at the discretion of the Company. The securities underlying these agreements remain under the Company's control.  FHLB overnight borrowings contain floating interest rates that may change daily at the discretion of the FHLB.  Federal Funds purchased are unsecured overnight borrowings from other financial institutions.  Short-term borrowings consisted of the following as of December 31, 2011 and 2010 (in thousands):

	2011		2010
Customer repurchase agreements	$	45,575	$	47,084
FHLB overnight borrowings		3,000		6,110
	$	48,575	$	53,194