At December 31, 2014, the Company had $264.3 million in federal funds purchased from its respondent banks that are clients of its correspondent banking unit, compared to $174.4 million at December 31, 2013. Rates paid on these  funds were between 0.25% and 0.30% as of December 31, 2014 and 2013.

 

At December 31, 2014, the Company had available lines of credit totaling approximately $160.0 million with various financial institutions for borrowing on a short-term basis, with no amount outstanding. Available lines with these same banks totaled approximately $130.0 million at December 31, 2013. These lines are subject to annual renewals with varying interest rates.