v3.3.1.900

Other Borrowings and Notes Payable | 12 Months Ended
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Dec. 31, 2015
Debt Disclosure [Abstract] |
Other Borrowings and Notes Payable | OTHER BORROWINGS AND NOTES PAYABLE A summary of other borrowings is as follows:
| December 31,
(in thousands) | 2015 |  | 2014
Securities sold under repurchase agreements | $ | 270,326 |  |  | $ | 230,373 |
Secured borrowings | — |  |  | 3,810 |
Total | $ | 270,326 |  |  | $ | 234,183 |
Average balance during the year | $ | 195,328 |  |  | $ | 184,964 |
Maximum balance outstanding at any month-end | 270,326 |  |  | 234,183 |
Average interest rate during the year | 0.22 | % |  | 0.32 | %
Average interest rate at December 31 | 0.16 | % |  | 0.30 | %
Federal Reserve line The Bank also has a line with the Federal Reserve Bank of St. Louis which provides additional liquidity to the Company. As of December 31, 2015, $815.6 million was available under this line. This line is secured by a pledge of certain eligible loans aggregating $1.1 billion. There were no amounts drawn on the Federal Reserve line of credit as of December 31, 2015. Term Loan On November 6, 2012, the Company entered into a $12.0 million unsecured term loan agreement ("Term Loan") with another bank with the proceeds being used to redeem the Company's preferred stock held by the U.S. Treasury. The Term Loan was paid off on November 6, 2015, the maturity date of the loan. A summary of the Term Loan is as follows:
| December 31,
(in thousands) | 2015 |  | 2014
Term Loan | $ | — |  |  | $ | 5,700 |
Average balance during the year | $ | 4,509 |  |  | $ | 6,464 |
Maximum balance outstanding at any month-end | 5,700 |  |  | 6,900 |
Weighted average interest rate during the year | 3.01 | % |  | 2.99 | %
Average interest rate at December 31 | — | % |  | 2.94 | %

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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