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Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2019
Debt Disclosure [Abstract] |
Borrowings | As of December 31, 2019 and 2018 borrowings consisted of the following (in thousands):
|  | 2019 |  | 2018
Securities sold under agreements to repurchase |  | $ | 208,109 |  |  | $ | 192,330 |
Federal Home Loan Bank (FHLB) Fixed-term advances |  | $113,895 |  | $119,745
Subordinated debentures |  | $18,858 |  | $29,000
Other borrowings: |  |  |  |
Federal funds purchased |  | $5,000 |  | $0
Due after one year |  | $0 |  | $7,724
Total |  | $ | 345,862 |  |  | $ | 348,799 |
Aggregate annual maturities of long-term borrowings | Aggregate annual maturities of FHLB advances and subordinated debentures (excluding unamortized discounts and premiums) at December 31, 2019 are (in thousands):
| FHLB |  | Subordinated Debentures
2020 | $ | 39,000 |  |  | $ | — |
2021 | 15,000 |  |  | — |
2022 | 5,000 |  |  | — |
2023 | 5,000 |  |  | — |
2024 | 10,000 |  |  | — |
Thereafter | 40,000 |  |  | 20,620 |
| 114,000 |  |  | 20,620 |
Unamortized discount | (105 | ) |  | (1,762 | )
| $ | 113,895 |  |  | $ | 18,858 |
Securities underlying the repurchase agreements |
(in thousands) |  | 2019 |  | 2018 |  | 2017
Securities sold under agreements to repurchase: |  |  |  |  |  |
Maximum outstanding at any month-end |  | $ | 208,109 |  |  | $ | 192,330 |  |  | $ | 163,626 |
Average amount outstanding for the year |  | 169,437 |  |  | 140,622 |  |  | 144,674 |

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