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OTHER BORROWINGS

3 Months Ended

Mar. 31, 2012

Other Borrowings

OTHER BORROWINGS

NOTE 6 – OTHER BORROWINGS

Other borrowings consist of the following obligations at March 31, 2012, and December 31, 2011:

		March 31, 2012				December 31, 2011

Federal funds purchased		$	—			$	—
Short-term repurchase agreements			5,444				6,191
Wholesale structured repurchase agreements			13,500				13,500

Total other borrowings		$	18,944			$	19,691

PSB pledges various securities available for sale as collateral for repurchase agreements. The fair value of securities pledged for repurchase agreements totaled $22,100 at March 31, 2012 and $22,977 at December 31, 2011.

The following information relates to securities sold under repurchase agreements and other borrowings for the periods ended March 31:

		Three months ended
		March 31,
		2012				2011

As of end of period - weighted average rate			3.09	%			2.42	%
For the period:
Highest month-end balance		$	19,156			$	32,644
Daily average balance		$	19,072			$	30,714
Weighted average rate			3.12	%			2.21	%

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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