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Repurchase Agreements and Other Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2020
Repurchase Agreements And Other Borrowings [Abstract] |
Schedule of Borrowings | As of December 31, 2020 and 2019 borrowings consisted of the following (in thousands):
|  | 2020 |  |  | 2019 |
Securities sold under agreements to repurchase |  | $ | 206,937 |  |  | $ | 208,109 |
Federal Home Loan Bank (FHLB) Fixed-term advances |  |  | 93,969 |  |  |  | 113,895 |
Subordinated debt |  |  | 94,253 |  |  |  | — |
Junior subordinated debentures |  |  | 19,027 |  |  |  | 18,858 |
Other borrowings: |  |  |  |  |  |  |  |
Federal funds purchased |  |  | — |  |  |  | 5,000 |
Due after one year |  |  | — |  |  |  | — |
Total |  | $ | 414,186 |  |  | $ | 345,862 |
Aggregate Annual Maturities of Long-Term Borrowings | Aggregate annual maturities of FHLB advances and debt (excluding unamortized discounts and premiums) at December 31, 2020 are (in thousands):
|  |  |  |  |  | Subordinated |  |  | Jr. Subordinated |
|  | FHLB |  |  | Debt |  |  | Debentures |
2021 |  | $ | 19,000 |  |  | $ | — |  |  | $ | — |
2022 |  |  | 5,000 |  |  |  | — |  |  |  | — |
2023 |  |  | 15,000 |  |  |  | — |  |  |  | — |
2024 |  |  | 10,000 |  |  |  | — |  |  |  | — |
2025 |  |  | 5,000 |  |  |  | — |  |  |  | — |
Thereafter |  |  | 40,000 |  |  |  | 96,000 |  |  |  | 20,620 |
|  |  | 94,000 |  |  |  | 96,000 |  |  |  | 20,620 |
Unamortized discount |  |  | (31 | ) |  |  | (1,747 | ) |  |  | (1,593 | )
|  | $ | 93,969 |  |  | $ | 94,253 |  |  | $ | 19,027 |
Federal Home Loan Bank, Advances | FHLB advances represent borrowings by First Mid Bank to fund loan demand. At December 31, 2020 the advances totaling $94 million were as follows:
Advance |  |  | Term (in years) |  |  | Interest Rate |  |  | Maturity Date
$ | 5,000,000 |  |  |  | 3.5 |  |  | 1.83% |  |  | February 1, 2021
| 5,000,000 |  |  |  | 5.0 |  |  | 1.85% |  |  | April 12, 2021
| 4,000,000 |  |  |  | 1.0 |  |  | 2.00% |  |  | May 3, 2021
| 5,000,000 |  |  |  | 7.0 |  |  | 2.55% |  |  | October 1, 2021
| 5,000,000 |  |  |  | 5.0 |  |  | 2.71% |  |  | March 21, 2022
| 5,000,000 |  |  |  | 8.0 |  |  | 2.40% |  |  | January 9, 2023
| 5,000,000 |  |  |  | 3.5 |  |  | 1.51% |  |  | July 31, 2023
| 5,000,000 |  |  |  | 3.5 |  |  | 0.77% |  |  | September 11, 2023
| 10,000,000 |  |  |  | 5.0 |  |  | 1.45% |  |  | December 31, 2024
| 5,000,000 |  |  |  | 5.0 |  |  | 0.91% |  |  | March 10, 2025
| 5,000,000 |  |  |  | 10.0 |  |  | 1.14% |  |  | October 3, 2029
| 5,000,000 |  |  |  | 10.0 |  |  | 1.15% |  |  | October 3, 2029
| 5,000,000 |  |  |  | 10.0 |  |  | 1.12% |  |  | October 3, 2029
| 10,000,000 |  |  |  | 10.0 |  |  | 1.39% |  |  | December 31, 2029
| 15,000,000 |  |  |  | 10.0 |  |  | 1.41% |  |  | December 31, 2029
Securities Underlying the Repurchase Agreements |
(in thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Securities sold under agreements to repurchase: |  |  |  |  |  |  |  |  |  |  |  |
Maximum outstanding at any month-end |  | $ | 350,288 |  |  | $ | 208,109 |  |  | $ | 192,330 |
Average amount outstanding for the year |  |  | 219,298 |  |  |  | 169,437 |  |  |  | 140,622 |
Schedule of Securities Financing Transactions | Repurchase agreements by class of collateral pledged are as follows (in thousands):
|  | December 31, 2020 |  |  | December 31, 2019 |
US Treasury securities and obligations of U.S. government corporations & agencies |  | $ | 37,423 |  |  | $ | 77,333 |
Obligations of states and political subdivisions |  |  | — |  |  |  | 2,375 |
Mortgage-backed securities: GSE: residential |  |  | 168,480 |  |  |  | 128,401 |
Miscellaneous |  |  | 1,034 |  |  |  | — |
Total |  | $ | 206,937 |  |  | $ | 208,109 |

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