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Borrowings

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Borrowings

Note 14 – Borrowings

		December 31				December 31
		2019				2018
Federal Home Loan Bank advances, variable and fixed rates ranging from 0.68% to 7.53%, due at various dates through August 20, 2029		$	390,800			$	356,579
Securities sold under agreements to repurchase			90,941				52,116
Federal funds purchased			68,000				141,689
Total borrowings		$	549,741			$	550,384

The Federal Home Loan Bank advances are secured by first and second mortgage loans and mortgage warehouse loans totaling approximately $905.9 million. Advances are subject to restrictions or penalties in the event of prepayment. At December 31, 2019, the Bank had a total of $125.0 million in putable advances. The call dates for these advances range from February 20, 2020 to October 24, 2022 even though maturity dates extend beyond those dates.

At December 31, 2019, the Bank had available approximately $517.1 million in credit lines with various money center banks, including the FHLB.

Contractual maturities in years ending December 31 are as follows:

2020		$	276,970
2021			15,102
2022			52,222
2023			183
2024			80,116
Thereafter			125,148
		$	549,741

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

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