Annual report pursuant to Section 13 and 15(d)

FEDERAL FUNDS PURCHASED

v2.4.0.8
FEDERAL FUNDS PURCHASED
12 Months Ended
Dec. 31, 2013
Federal Funds Purchased [Abstract]  
FEDERAL FUNDS PURCHASED
NOTE 8.         FEDERAL FUNDS PURCHASED
 
At December 31, 2013, the Company had $174.4 million in federal funds purchased from its respondent banks that are clients of its correspondent banking unit, compared to $117.1 million at December 31, 2012.  The Company was paying an interest rate of 0.25% on these balances at December 31, 2013.
 
At December 31, 2013, 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 $130 million at December 31, 2012.  These lines are subject to annual renewals with varying interest rates.