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Short-term Borrowings (Tables)
12 Months Ended
Dec. 31, 2018
Short-term Debt [Abstract]  
Summary of Short-Term Borrowings
Short-term borrowings at December 31 were as follows:
 
2018
 
2017
 
2016
 
Ending
Balance
 
Average
Balance
 
Average
Rate
 
Ending
Balance
 
Average
Balance
 
Average
Rate
 
Ending
Balance
 
Average
Balance
 
Average
Rate
 
(dollars in thousands)
Federal funds purchased
$
11,000

 
$
8,801

 
2.05
%
 
$

 
$
6,225

 
1.24
%
 
$

 
$
6,887

 
0.60
%
Borrowings from FHLB
565,000

 
467,594

 
2.12

 
567,500

 
710,932

 
1.18

 
748,000

 
1,265,932

 
0.61

Securities sold under agreements to repurchase
145,823

 
142,562

 
0.44

 
139,966

 
150,234

 
0.24

 
119,943

 
114,918

 
0.23

Total
$
721,823

 
$
618,957

 
1.74

 
$
707,466

 
$
867,391

 
1.01

 
$
867,943

 
$
1,387,737

 
0.58

Maximum total at any month-end
$
811,026

 
 
 
 
 
$
967,259

 
 
 
 
 
$
1,530,678

 
 
 
 
Weighted average rate at year-end
 
 
 
 
2.17
%
 
 
 
 
 
1.27
%
 
 
 
 
 
0.63
%
Interest Expense on Short-Term Borrowings
Interest expense on short-term borrowings for the years ended December 31 is detailed below:
 
2018
 
2017
 
2016
 
(dollars in thousands)
Federal funds purchased
$
180

 
$
77

 
$
41

Borrowings from FHLB
9,929

 
8,360

 
7,765

Securities sold under agreements to repurchase
632

 
362

 
270

Total interest on short-term borrowings
$
10,741

 
$
8,799

 
$
8,076