|
Borrowings (Tables)
|
3 Months Ended |
|
Mar. 31, 2013
|
| Borrowings [Abstract] |
|
| Short-term borrowings |
| |
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| |
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March 31, |
|
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December 31, |
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| |
|
2013 |
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|
2012 |
|
|
Securities sold under agreements to repurchase
|
|
$ |
72,047 |
|
|
$ |
54,270 |
|
|
Other short-term borrowings
|
|
|
— |
|
|
|
78,000 |
|
| |
|
|
|
|
|
|
|
|
|
Total short-term borrowings
|
|
$ |
72,047 |
|
|
$ |
132,270 |
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
Maximum month-end outstanding balance
|
|
$ |
112,164 |
|
|
$ |
154,116 |
|
|
Average outstanding balance during the period
|
|
|
94,006 |
|
|
|
91,993 |
|
|
Average interest rate during the period
|
|
|
0.30 |
% |
|
|
0.31 |
% |
|
Average interest rate at end of period
|
|
|
0.27 |
% |
|
|
0.28 |
% |
| |
|
|
|
Other short-term borrowings:
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|
|
|
|
|
|
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|
Federal Funds purchased
|
|
|
— |
|
|
|
38,000 |
|
|
FHLB
|
|
|
— |
|
|
|
40,000 |
|
|
| Trust preferred capital notes qualify for Tier 1 capital |
| |
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Principal |
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|
Investment(1) |
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|
Spread to
3-Month LIBOR |
|
|
Rate |
|
|
Maturity |
|
|
Trust Preferred Capital Note - Statutory Trust I
|
|
|
22,500,000 |
|
|
|
696,000 |
|
|
|
2.75 |
% |
|
|
3.03 |
% |
|
|
6/17/2034 |
|
|
Trust Preferred Capital Note - Statutory Trust II
|
|
|
36,000,000 |
|
|
|
1,114,000 |
|
|
|
1.40 |
% |
|
|
1.68 |
% |
|
|
6/15/2036 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
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|
|
| |
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|
58,500,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
reported as ‘Other Assets’ within the consolidated Balance Sheets |
|
| Advances from the FHLB |
| |
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|
|
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Long Term Type
|
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Spread to
3-Month LIBOR |
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|
Interest
Rate |
|
|
Maturity
Date |
|
|
Conversion
Date |
|
Option
Frequency |
|
Advance
Amount |
|
| |
|
|
|
|
|
|
|
Adjustable Rate Credit
|
|
|
0.44 |
% |
|
|
0.72 |
% |
|
|
8/23/2022 |
|
|
n/a |
|
n/a |
|
$ |
55,000 |
|
|
Adjustable Rate Credit
|
|
|
0.45 |
% |
|
|
0.74 |
% |
|
|
11/23/2022 |
|
|
n/a |
|
n/a |
|
|
65,000 |
|
|
Adjustable Rate Credit
|
|
|
0.45 |
% |
|
|
0.74 |
% |
|
|
11/23/2022 |
|
|
n/a |
|
n/a |
|
|
10,000 |
|
|
Adjustable Rate Credit
|
|
|
0.45 |
% |
|
|
0.74 |
% |
|
|
11/23/2022 |
|
|
n/a |
|
n/a |
|
|
10,000 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
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| |
|
|
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|
|
|
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|
$ |
140,000 |
|
| |
|
|
|
|
|
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As of December 31, 2012, the advances from the FHLB consisted of the following (dollars in thousands):
| |
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Long Term Type
|
|
Spread to
3-Month LIBOR |
|
|
Interest
Rate |
|
|
Maturity
Date |
|
|
Conversion
Date |
|
Option
Frequency |
|
Advance
Amount |
|
| |
|
|
|
|
|
|
|
Adjustable Rate Credit
|
|
|
0.44 |
% |
|
|
0.75 |
% |
|
|
8/23/2022 |
|
|
n/a |
|
n/a |
|
$ |
55,000 |
|
|
Adjustable Rate Credit
|
|
|
0.45 |
% |
|
|
0.76 |
% |
|
|
11/23/2022 |
|
|
n/a |
|
n/a |
|
|
65,000 |
|
|
Adjustable Rate Credit
|
|
|
0.45 |
% |
|
|
0.76 |
% |
|
|
11/23/2022 |
|
|
n/a |
|
n/a |
|
|
10,000 |
|
|
Adjustable Rate Credit
|
|
|
0.45 |
% |
|
|
0.76 |
% |
|
|
11/23/2022 |
|
|
n/a |
|
n/a |
|
|
10,000 |
|
| |
|
|
|
|
|
|
|
|
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| |
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|
|
|
|
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|
$ |
140,000 |
|
| |
|
|
|
|
|
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| Contractual maturities of long-term debt |
| |
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|
Subordinated
Debt |
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|
FHLB
Advances |
|
|
Prepayment
Penalty |
|
|
Total Long-term
Borrowings |
|
|
Remaining nine months in 2013
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(1,318 |
) |
|
$ |
(1,318 |
) |
|
2014
|
|
|
— |
|
|
|
— |
|
|
|
(1,787 |
) |
|
|
(1,787 |
) |
|
2015
|
|
|
— |
|
|
|
— |
|
|
|
(1,831 |
) |
|
|
(1,831 |
) |
|
2016
|
|
|
15,992 |
|
|
|
— |
|
|
|
(1,882 |
) |
|
|
14,110 |
|
|
2017
|
|
|
— |
|
|
|
— |
|
|
|
(1,923 |
) |
|
|
(1,923 |
) |
|
2018
|
|
|
— |
|
|
|
— |
|
|
|
(1,969 |
) |
|
|
(1,969 |
) |
|
Thereafter
|
|
|
— |
|
|
|
140,000 |
|
|
|
(7,918 |
) |
|
|
132,082 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total long-term borrowings
|
|
$ |
15,992 |
|
|
$ |
140,000 |
|
|
$ |
(18,628 |
) |
|
$ |
137,364 |
|
| |
|
|
|
|
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