Short-term Borrowings (Tables)

6 Months Ended

Jun. 30, 2013

Short-term Borrowings [Abstract]

Schedule of 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 GSEs. They mature daily. The interest rates 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 June 30, 2013 and December 31, 2012 (in thousands):

	June 30, 2013		December 31, 2012
Customer repurchase agreements	$	41,972	$	49,942
FHLB overnight borrowings		-		-
	$	41,972	$	49,942