Short-term Borrowings
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Dec. 31, 2013
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term Borrowings | SHORT-TERM BORROWINGS Short-term borrowings as of December 31, 2013 and 2012, were as follows, in thousands:
At December 31, 2013, Heartland has one credit line with an unaffiliated bank with revolving borrowing capacity of $20.0 million. At December 31, 2012, Heartland had two credit lines with two unaffiliated banks, each with revolving borrowing capacity of $5.0 million. At December 31, 2013 and 2012, Heartland had no outstanding balance on any lines of credit. The agreement with the lender of the revolving credit line of $20.0 million and the term loan (as indicated in Note 11) contains specific financial covenants, all of which Heartland was in compliance with at December 31, 2013 and 2012:
All retail repurchase agreements as of December 31, 2013 and 2012 were due within twelve months. Average and maximum balances and rates on aggregate short-term borrowings outstanding during the years ended December 31, 2013, December 31, 2012, and December 31, 2011 were as follows, in thousands:
Dubuque Bank and Trust Company is a participant in the Borrower-In-Custody of Collateral Program at the Federal Reserve Bank of Chicago, which provides the capability to borrow short-term funds under the Discount Window Program. Advances under this program were collateralized by a portion of the commercial loan portfolio of Dubuque Bank and Trust Company in the amount of $100.8 million at December 31, 2013, and $101.3 million at December 31, 2012. There were no borrowings under the Discount Window Program outstanding at year-end 2013 and 2012. |