v2.3.0.9
Other Borrowings
9 Months Ended
Dec. 31, 2011
Other Borrowings [Abstract]  
Other Borrowings Disclosure [Text Block]
9. Other Borrowings

 

Other borrowings included the following:

 

    December 31,
2011
    March 31,
2011
 
    (In thousands)  
                 
Securities sold under repurchase agreements   $ 15,821     $ 15,620  

 

Securities sold under agreements to repurchase consist of obligations of the Company to other parties. The obligations are secured by investments and such collateral is held by the Company under a safekeeping agreement at a correspondent bank. The maximum amount of outstanding agreements at any month end during the nine months ending December 31, 2011 and the year ending March 31, 2011 totaled $17,810,000 and $20,388,000, respectively. The monthly average of such agreements totaled $14,899,000 for the nine months ending December 31, 2011and $17,401,000 for the twelve months ending March 31, 2011. The average rate on the agreements for the nine months ending December 31, 2011was 0.145% and for the twelve months ending March 31, 2011 the average rate was 0.25%. The agreements at December 31, 2011, mature periodically within 24 months. The Company has a repurchase agreement with one customer with an outstanding balance of $5.0 million at December 31, 2011. The repurchase agreement matures daily.