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Short-Term Borrowings | 12 Months Ended
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Dec. 31, 2016
Debt Disclosure [Abstract] |
Short-Term Borrowings | SHORT-TERM BORROWINGS Short-term borrowings are for terms under one year and were comprised of REPOs and FHLB advances. REPOs are overnight short-term investments and are not insured by the Federal Deposit Insurance Corporation, or FDIC. Securities pledged as collateral under these REPO financing arrangements cannot be sold or repledged by the secured party and are therefore accounted for as a secured borrowing. Securities with amortized cost of $53.1 million and carrying value of $52.9 million at December 31, 2016 and amortized cost of $67.0 million and carrying value of $66.9 million at December 31, 2015 were pledged as collateral for these secured transactions. The pledged securities are held in safekeeping at the Federal Reserve. Due to the overnight short-term nature of REPOs, potential risk due to a decline in the value of the pledged collateral is low. Collateral pledging requirements with REPOs are monitored daily. The following table represents the composition of short-term borrowings, the weighted average interest rate as of December 31 and interest expense for the years ended December 31:
| 2016 |  | 2015 |  | 2014
(dollars in thousands) | Balance |  | Weighted Average Interest Rate |  | Interest Expense |  |  | Balance |  | Weighted Average Interest Rate |  | Interest Expense |  |  | Balance |  | Weighted Average Interest Rate |  | Interest Expense |
REPOs | $ | 50,832 |  | 0.01 | % | $ | 5 |  |  | $ | 62,086 |  | 0.01 | % | $ | 4 |  |  | $ | 30,605 |  | 0.01 | % | $ | 3 |
FHLB advances | 660,000 |  | 0.76 | % | 2,713 |  |  | 356,000 |  | 0.52 | % | 932 |  |  | 290,000 |  | 0.31 | % | 511 |
Total Short-term Borrowings | $ | 710,832 |  | 0.70 | % | $ | 2,718 |  |  | $ | 418,086 |  | 0.44 | % | $ | 936 |  |  | $ | 320,605 |  | 0.27 | % | $ | 514 |

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 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) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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