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v3.20.4

Short Term Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2020
Short-term Debt [Abstract] |
Schedule of short-term debt | Short-Term Borrowings Short-term borrowings were as follows:
December 31 (In thousands) |  | 2020 |  | 2019
Securities sold under agreements to repurchase |  | $ | 317,230 |  |  | $ | 175,657 |
FHLB advances |  | 25,000 |  |  | 55,000 |
Total short-term borrowings |  | $ | 342,230 |  |  | $ | 230,657 |
The outstanding balances for all short-term borrowings as of December 31, 2020 and 2019 and the weighted-average interest rates as of and paid during each of the years then ended were as follows:
(In thousands) |  | Repurchase agreements |  | FHLB Advances
2020 |  |  |  |
Ending balance |  | $ | 317,230 |  |  | $ | 25,000 |
Highest month-end balance |  | 317,230 |  |  | 25,000 |
Average daily balance |  | 250,266 |  |  | 26,751 |
Weighted-average interest rate: |  |  |  |
As of year-end |  | 0.03 | % |  | 0.26 | %
Paid during the year |  | 0.19 | % |  | 2.38 | %
2019 |  |  |  |
Ending balance |  | $ | 175,657 |  |  | $ | 55,000 |
Highest month-end balance |  | 207,079 |  |  | 205,000 |
Average daily balance |  | 168,449 |  |  | 47,371 |
Weighted-average interest rate: |  |  |  |
As of year-end |  | 0.73 | % |  | 1.73 | %
Paid during the year |  | 0.66 | % |  | 2.89 | %

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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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- References No definition available. + Details
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