Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2013

Derivative Instruments And Hedging Activities Tables

Schedule of Interest Rate Swaps

As of December 31, PSB had the following outstanding interest rate swap that was entered into to hedge variable-rate debt:

	2013	2012
Notional amount	$7,500	$7,500
Pay fixed rate	2.72%	2.72%
Receive variable rate	0.24%	0.31%
Maturity	9/15/2017	9/15/2017
Unrealized loss (fair value)	$438	$699

At December 31, the following floating interest rate swaps were outstanding with customers:

	2013	2012
Notional amount	$14,323	$	14,979
Receive fixed rate (average)	2.00%		1.99%
Pay variable rate (average)	0.17%		0.21%
Maturity	3/2015-10/2021		3/2015-10/2021
Weighted average remaining term	2.9 years		3.9 years
Unrealized gain fair value	$276	$	673

At December 31, the following offsetting fixed interest rate swaps were outstanding with correspondent banks:

	2013	2012
Notional amount	$14,323	$14,979
Pay fixed rate (average)	2.00%	1.99%
Receive variable rate (average)	0.17%	0.21%
Maturity	3/2015-10/2021	3/2015-10/2021
Weighted average remaining term	2.9 years	3.9 years
Unrealized loss fair value	($276)	($673)