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Short-Term Borrowed Funds
 12 Months Ended
Dec. 31, 2014
Debt Disclosure [Abstract]  
Short-Term Borrowed Funds

Note 10 - Short-Term Borrowed Funds

The following tables set forth certain information regarding the amounts, year-end weighted average rates, average balances, weighted average rate, and maximum month-end balances for short-term borrowed funds, at and during 2014 and 2013:

 

     2014     2013  
     Amount      Rate     Amount      Rate  
     (dollars in thousands)  

At year-end

           

Master notes and other short term borrowing

    $ 3,674         0.25 %    $ 3,998         0.25 % 

Notes payable

      11         6.00 %      11         6.00 % 

Short-term line of credit

      1,000         3.75 %      —           0.00 % 

Short-term advances from FHLB

      —           0.00 %      1,500         4.80 % 
  

 

 

     

 

 

    

 

 

     

 

 

  
   $ 4,685         1.01 %    $ 5,509         1.30 % 
  

 

 

     

 

 

    

 

 

     

 

 

  
     2014     2013  
     Amount      Rate     Amount      Rate  
     (dollars in thousands)  

Average for the year

           

Federal funds purchased

    $ 2         0.79 %    $ 4         0.79 % 

Master notes and other short term borrowing

      4,250         0.44 %      5,617         0.41 % 

Notes payable

      11         6.00 %      10         6.00 % 

Short-term line of credit

      57         3.75 %      —           0.00 % 

Short-term advances from FHLB

      510         4.08 %      5,026         2.61 % 
  

 

 

     

 

 

    

 

 

     

 

 

  
   $ 4,830         0.88 %    $ 10,657         1.34 % 
  

 

 

     

 

 

    

 

 

     

 

 

  
     2014      2013  
     (dollars in thousands)  

Maximum month-end balance

      

Federal funds purchased

    $ —         $ —     

Master notes and other short term borrowing

      4,640         6,736   

Notes payable

      11         11   

Short-term line of credit

      1,000         —     

Short-term advances from FHLB

      1,500         9,500   

Federal funds purchased represent unsecured overnight borrowings from other financial institutions. Master notes and other secured borrowings represent an overnight investment in commercial paper issued by the Company to customers of its subsidiary bank, where an agreement is in place.

The Company has a short term line of credit with $1.0 million outstanding at December 31, 2014. The line of credit has an interest rate of 3.75% and matures March 10, 2015. This line is collateralized by Uwharrie Bank Stock.

The subsidiary bank has combined available lines of credit for federal funds and Federal Reserve discount window availability in the amount of $36.1 million at December 31, 2014.