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FEDERAL FUNDS PURCHASED
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12 Months Ended | ||
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Dec. 31, 2012
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| Federal Funds Purchased [Abstract] | |||
| FEDERAL FUNDS PURCHASED |
At December 31, 2012, The Company had $117.1 million in federal funds purchased from its respondent banks that are clients of its correspondent banking unit, compared to $79.3 million at December 31, 2011. The Company was paying an interest rate of 0.25% on these balances at December 31, 2012.
At December 31, 2012, the Company had available lines of credit totaling approximately $130 million with various financial institutions for borrowing on a short-term basis, with no amount outstanding. Available lines with these same banks totaled approximately $140 million at December 31, 2011. These lines are subject to annual renewals with varying interest rates. |
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- Definition
Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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