OTHER BORROWINGS

9 Months Ended

Sep. 30, 2011

OTHER BORROWINGS [Abstract]

OTHER BORROWINGS

NOTE 7 – OTHER BORROWINGS

Other borrowings consist of the following obligations at September 30, 2011 and December 31, 2010

	September 30, 2011		December 31, 2010
Short-term repurchase agreements	$	8,245	$	18,011
Wholesale structured repurchase agreements		13,500		13,500
Total other borrowings	$	21,745	$	31,511

PSB pledges various securities available for sale as collateral for repurchase agreements. The fair value of securities pledged for repurchase agreements totaled $25,527 at September 30, 2011 and $36,639 at December 31, 2010.

The following information relates to securities sold under repurchase agreements and other borrowings:

	Three months ended						Nine months ended
	September 30,						September 30,
	2011			2010			2011			2010
As of end of period – weighted average rate		2.90	%		2.65	%		2.90	%		2.65	%
For the period:
Highest month-end balance	$	21,746		$	24,789		$	32,644		$	30,185
Daily average balance	$	21,745		$	23,304		$	26,172		$	24,562
Weighted average rate		2.96	%		2.88	%		2.52	%		3.09	%