OTHER BORROWINGS

6 Months Ended

Jun. 30, 2012

Other Borrowings

OTHER BORROWINGS

NOTE 7 – OTHER BORROWINGS

Other borrowings consist of the following obligations at June 30, 2012, and December 31, 2011:

	June 30, 2012		December 31, 2011
Short-term repurchase agreements	$	4,586	$	6,191
Wholesale structured repurchase agreements		13,500		13,500
Total other borrowings	$	18,086	$	19,691

PSB pledges various securities available for sale as collateral for repurchase agreements. The fair value of securities pledged for repurchase agreements totaled $23,096 at June 30, 2012 and $22,977 at December 31, 2011.

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

	Three months ended						Six months ended
	June 30,						June 30,
	2012			2011			2012			2011
As of end of period - weighted average rate		3.23	%		2.61	%		3.23	%		2.61	%
For the period:
Highest month-end balance	$	19,934		$	27,279		$	19,934		$	32,644
Daily average balance	$	19,705		$	26,154		$	19,388		$	28,421
Weighted average rate		3.04	%		2.53	%		3.08	%		2.36	%