Borrowings

12 Months Ended

Dec. 31, 2012

Borrowings [Abstract]

BORROWINGS

NOTE 7 – BORROWINGS

Short-term borrowings

Short-term borrowings include overnight repurchase agreements, federal funds purchased and short-term advances through the FHLB. The outstanding balances and related information for short-term borrowings are summarized as follows:

(Dollars in thousands)	2012			2011
Balance at year-end	$	43,992		$	37,073
Average balance outstanding		40,893			32,577
Maximum month-end balance		43,992			37,073
Weighted-average rate at year-end		0.20	%		0.25	%
Weighted-average rate during the year		0.22			0.43

Average balances outstanding during the year represent daily average balances, and average interest rates represent interest expenses divided by the related average balances.

Other borrowings

The following table sets forth information concerning other borrowings:

(Dollars in thousands)	Maturity range				Weighted average interest			Stated interest rate range						At December 31,
Description	From		To		rate			From			To			2012		2011
Fixed rate		3/14/2012		12/21/2017		3.62	%		3.48	%		3.73	%		12,000		18,000
Fixed rate amortizing		1/1/2012		3/1/2017		6.01			4.80			7.15			672		1,161
															12,672		19,161

Maturities of other borrowings at December 31, 2012, are summarized as follows:

(Dollars in thousands) Year ending December 31	Amount		Weighted- average rate
2013	$	215		6.06	%
2014		2,190		3.91
2015		169		6.01
2016		96		5.84
2017		10,002		3.61
	$	12,672		3.75	%

Monthly principal and interest payments are due on the fixed rate amortizing borrowings; additionally a 10% principal curtailment is due on the borrowing’s anniversary date. FHLB borrowings are secured by a blanket collateral agreement. At December 31, 2012 the Company has the capacity to borrow an additional $41.1 million from the FHLB.