
					Maximum				Weighted
					Outstanding		Average		Average
			Weighted		at Month		Amount		Interest
	Balance at		Average		End		Outstanding		Rate
	End of		Interest		During the		During the		During the
	Period		Rate		Period		Period		Period
At December 31, 2011	(Dollars in Thousands)
FHLB advances	$	538,682	1.49	%	$	676,093	$	561,117	1.75	%
Trust preferred borrowings		67,011	2.30			67,011		67,011	2.02
Federal funds purchased and securities sold
under agreements to repurchase		50,000	1.68			100,000		78,685	1.50
Other borrowed funds		67,927	1.26			74,859		71,431	1.30


At December 31, 2010
FHLB advances	$	488,959	2.28	%	$	640,179	$	544,317	2.67	%
Trust preferred borrowings		67,011	2.07			67,011		67,011	2.05
Federal funds purchased and securities sold
under agreements to repurchase		100,000	1.50			110,000		98,767	1.51
Other borrowed funds		91,636	1.01			107,867		86,989	1.13

Advances from the FHLB of Pittsburgh with rates ranging from 0.14% to 4.45% at December 31, 2011 are due as follows:

Pursuant to collateral agreements with the FHLB, advances are secured by qualifying first mortgage loans, qualifying fixed-income securities, FHLB stock and an interest-bearing demand deposit account with the FHLB.

As a member of the FHLB of Pittsburgh, we are required to purchase and hold shares of capital stock in the FHLB of Pittsburgh in an amount at least equal to 0.35% of our of member asset value plus 4.60% of advances outstanding. We were in compliance with this requirement with a stock investment in FHLB of Pittsburgh of $35.8 million at December 31, 2011. This stock is carried on the accompanying Consolidated Statement of Condition at cost, which approximates liquidation value.

At December 31, 2011 we had $35.8 million of FHLB stock compared to $37.5 million at December 31, 2010. In December 2008, the FHLB of Pittsburgh announced the suspension of both dividend payments and the repurchase of capital stock. In 2010, a limited repurchase of capital stock was reinstated and during 2011 net capital stock repurchases totaled $1.8 million. We received no dividends from the FHLB of Pittsburgh during 2011, 2010 or 2009. However, in February of 2012, the FHLB of Pittsburgh declared a 0.10% dividend payment as well as additional repurchases of capital stock.

At December 31, 2011, 29 advances were outstanding totaling $538.7 million, with a weighted average rate of 1.49%.

In 2005, we issued $67.0 million of aggregate principal amount of Pooled Floating Rate Securities at a variable interest rate of 177 basis points over the three-month LIBOR rate. The proceeds from this issuance were used to fund the redemption of $51.5 million of Floating Rate Capital Trust I Preferred Securities.

During 2011 and 2010, we purchased federal funds as a short-term funding source. At December 31, 2011, we had purchased $25.0 million in federal funds at a rate of 0.38%. At December 31, 2010, we had purchased $75.0 million in federal funds at a rate of 0.38%.

During 2011, we continued to have securities sold under agreements to repurchase as a funding source. At December 31, 2011, securities sold under agreements to repurchase had a fixed rate of 2.98%. The underlying securities are mortgage-backed securities with a book value of $29.9 million at December 31, 2011. Securities sold under agreements to repurchase with the corresponding carrying and market values of the underlying securities are due as follows:

					Collateral
	Borrowing				Carrying		Fair		Accrued
	Amount		Rate		Value		Value		Interest
(Dollars in Thousands)
2011

Over 90 days	$	25,000	2.98	%	$	29,942	$	30,961	$	97

2010

Over 90 days	$	25,000	4.87	%	$	27,584	$	28,419	$	95

Included in other borrowed funds are collateralized borrowings of $37.9 million and $61.6 million at December 31, 2011 and 2010 respectively, consisting of outstanding retail repurchase agreements, contractual arrangements under which portions of certain securities are sold overnight to retail customers under agreements to repurchase. Such borrowings were collateralized by mortgage-backed securities. The average rates on these borrowings were 0.09% and 0.17% at December 31, 2011 and 2010, respectively. In addition, during 2009 we issued $30.0 million of unsecured debt under the FDIC Temporary Liquidity Guarantee Program. The rate on this debt was 2.74% at December 31, 2010.