Other Borrowings
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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Other Borrowings [Abstract] | ||||||||||||||||||||||||||||||||||||||||
Other Borrowings Disclosure [Text Block] |
Other borrowings included the following:
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. |