Note 7.

Borrowings

As of December 31, 2012, Middleburg Bank had remaining credit availability in the amount of $76 million at the Federal Home Loan Bank of Atlanta. This line may be utilized for short and/or long-term borrowing. Advances on the line are secured by all of the Company's first lien residential real estate loans on one-to-four-unit, single-family dwellings; home equity lines of credit; and eligible commercial real estate loans. The amount of the available credit is limited to a percentage of the estimated market value of the loans as determined periodically by the FHLB of Atlanta. Any borrowings in excess of the qualifying collateral require pledging of additional assets.

The Company had $77.9 million of Federal Home Loan Bank advances outstanding as of December 31, 2012. The interest rates on these advances ranged from 0.14% to 1.98% and the weighted-average rate was 1.17%. The Company's Federal Home Loan Bank advances totaled $82.9 million at December 31, 2011. The weighted-average interest rate on these advances at December 31, 2011 was 1.14%.

The contractual maturities of the Company's long-term debt are as follows:

	December 31, 2012
	(In thousands)
Due in 2013	$	17,912
Due in 2014		40,000
Due in 2015		15,000
Due in 2016		5,000
Total	$	77,912

The outstanding balances and related information for Federal Funds Purchased, Securities Sold Under Agreements to Repurchase, and Short-term Borrowings are summarized as follows (in thousands):

	Federal Funds Purchased			Securities Sold Under Agreements to Repurchase			Short-term Borrowings
At December 31:
2012	$	—		$	33,975		$	11,873
2011		—			31,686			28,331
2010		—			25,562			13,320
Weighted-average interest rate at year-end:
2012		—	%		0.90	%		5.00	%
2011		—			1.04			5.00
2010		—			0.94			5.13
Maximum amount outstanding at any month's end:
2012	$	—		$	38,949		$	17,656
2011		—			36,617			28,331
2010		5,000			27,542			21,875
Average amount outstanding during the year:
2012	$	1		$	34,177		$	8,725
2011		42			33,162			9,555
2010		25			25,314			10,419
Weighted-average interest rate during the year:
2012		0.25	%		0.97	%		4.49	%
2011		0.25			0.88			3.33
2010		—			0.81			3.77

In 2012, Southern Trust Mortgage had a revolving line of credit with a regional bank with a credit limit of $24 million. The line was primarily used to fund its mortgages held for sale. Middleburg Bank guarantees the balance of these loans up to $10 million. At December 31, 2012, the line had an outstanding balance of $ 11.9 million and is included in total short-term borrowings. The line of credit is based on the London Inter-Bank Offered Rate ("LIBOR"). The weighted-average interest rate on Southern Trust Mortgage's line of credit at December 31, 2012, was 5.00%

Southern Trust Mortgage also has a $70 million line of credit for financing mortgage notes it originates until such time the mortgage notes can be sold and a $5 million line of credit for operating purposes with Middleburg Bank, of which $69.2 million and $1.2 million, respectively, was outstanding at December 31, 2012. These lines of credit are eliminated in the consolidation process and are not reflected in the consolidated financial statements of the Company.

The Company also has a line of credit with the Federal Reserve Bank of Richmond of $48.9 million of which there was no outstanding balance at December 31, 2012.

The Company has an additional $24 million in lines of credit available from other institutions at December 31, 2012.