Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVES (Tables)

v2.4.0.8
DERIVATIVES (Tables)
 9 Months Ended
Sep. 30, 2013
Cash Flow Hedging [Member]
  
Derivative [Line Items]  
Summary of the Derivatives

Shown below is a summary of the derivatives designated as cash flow hedges at September 30, 2013 and December 31, 2012 (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notional

 

 

 

 

 

 

 

Receive

 

Pay

 

Life

   

Positions

 

Amount

 

Asset

 

Liability

 

Rate

 

Rate

 

(Years)

As of September 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pay fixed - receive floating interest rate swaps

1

 

$
36,000 

 

$

 -

 

$
3,336 

 
0.25% 

 
3.51% 

 
3.71 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Receive fixed - pay floating interest rate swaps

8

 

$
100,000 

 

$
672 

 

$

 -

 
5.17% 

*
3.89% 

*
5.97 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notional

 

 

 

 

 

 

 

Receive

 

Pay

 

Life

   

Positions

 

Amount

 

Asset

 

Liability

 

Rate

 

Rate

 

(Years)

As of December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pay fixed - receive floating interest rate swaps

1

 

$
36,000 

 

$

 -

 

$
4,489 

 
0.31% 

 
3.51% 

 
4.46 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*This receive rate is a weighted average rate for the 8 loan swaps that have a receive rate range from 4.71% to 6.09%.  The pay rate is a weighted average rate taking into consideration the floor rates discussed above.

 

Interest Rate Swap [Member]
  
Derivative [Line Items]  
Summary of the Derivatives

Shown below is a summary regarding loan swap derivative activities at September 30, 2013 and December 31, 2012 (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notional

 

 

 

 

 

 

 

Receive

 

Pay

 

Life

   

Positions

 

Amount

 

Asset

 

Liability

 

Rate

 

Rate

 

(Years)

As of September 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Receive fixed - pay floating interest rate swaps

1

 

$
724 

 

$
21 

 

$

 -

 
4.58% 

 
2.93% 

 
8.84 

Pay fixed - receive floating interest rate swaps

1

 

$
724 

 

$

 -

 

$
21 

 
2.93% 

 
4.58% 

 
8.84 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notional

 

 

 

 

 

 

 

Receive

 

Pay

 

Life

   

Positions

 

Amount

 

Asset

 

Liability

 

Rate

 

Rate

 

(Years)

As of December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Receive fixed - pay floating interest rate swaps

1

 

$
744 

 

$
18 

 

$

 -

 
4.58% 

 
2.96% 

 
9.59 

Pay fixed - receive floating interest rate swaps

1

 

$
744 

 

$

 -

 

$
18 

 
2.96% 

 
4.58% 

 
9.59