BORROWINGS

12 Months Ended

Dec. 31, 2012

Debt Disclosure [Abstract]

Borrowings

Note 10 – Borrowings

Information relating to retail repurchase agreements and other short-term borrowings is presented in the following table at and for the years ending December 31:

	2012					2011					2010
(Dollars in thousands)	Amount		Rate			Amount		Rate			Amount		Rate
Retail repurchase agreements	$	51,929		0.20	%	$	63,613		0.20	%	$	86,243		0.30	%
Average for the Year:
Retail repurchase agreements	$	63,864		0.28	%	$	73,543		0.26	%	$	86,726		0.30	%
Maximum Month-end Balance:
Retail repurchase agreements	$	73,130				$	79,529				$	97,884

The Company pledges U.S. Agencies and Corporate securities, based upon their market values, as collateral for 102.5% of the principal and accrued interest of its retail repurchase agreements.

At December 31, 2012, the Company has an available line of credit for $1.2 billion with the Federal Home Loan Bank of Atlanta (the "FHLB") under which its borrowings are limited to $699.1 million based on pledged collateral at prevailing market interest rates. At December 31, 2012, total pledged collateral for the FHLB advances was $440.1. At December 31, 2011, lines of credit totaled $1.1 billion under which $498.3 million was available based on pledged collateral. Total collateral pledged at December 31, 2011 was $485.4 million which included $80.0 million for overnight funds and $405.4 for the FHLB advances. Both short-term and long-term FHLB advances are fully collateralized by pledges of loans. Under a blanket lien, the Company has pledged qualifying residential mortgage loans amounting to $399.1 million, commercial loans amounting to $552.6 million, home equity lines of credit (“HELOC”) amounting to $313.6 million and multifamily loans amounting to $8.0 million at December 31, 2012 as collateral under the borrowing agreement with the FHLB. At December 31, 2011 the Company had pledged collateral of qualifying mortgage loans of $319.2 million, commercial loans of $514.8 million, HELOC loans of $322.0 million and multifamily loans of $13.0 million under the FHLB borrowing agreement. The Company also had lines of credit available from the Federal Reserve and correspondent banks of $411.6 million and $315.2 million at December 31, 2012 and 2011, respectively, collateralized by loans and state and municipal securities. In addition, the Company had unsecured lines of credit with correspondent banks of $55.0 million and $55.0 million at December 31, 2012 and 2011, respectively. At December 31, 2012 there were no outstanding borrowings against these lines of credit.

Advances from FHLB and the respective maturity schedule at December 31 for the years indicated consisted of the following:

	2012					2011
			Weighted					Weighted
			Average					Average
(Dollars in thousands)	Amounts		Rate			Amounts		Rate
Maturity:
One year	$	35,058		0.36	%	$	350		0.37	%
Two years		-		-			58		4.13
Three years		-		-			-		-
Four years		40,000		4.47			-		-
Five years		85,000		3.57			160,000		4.51
After five years		280,000		2.91			245,000		2.84
Total advances from FHLB	$	440,058		2.97		$	405,408		2.99