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SHORT-TERM BORROWINGS
 12 Months Ended
Dec. 31, 2016
Debt Disclosure [Abstract]  
SHORT-TERM BORROWINGS
SHORT-TERM BORROWINGS
The Company has short-term borrowing capability, including short-term borrowings from the FHLB, federal funds purchased and the FRB discount window.
The following table summarizes the use of these short-term borrowings at and for the years ended December 31.
 
(Dollars in thousands)
2016
 
2015
 
2014
 
 
 
 
 
 
Balance at year-end
$
52,000

 
$
60,000

 
$
65,000

Weighted average interest rate at year-end
0.76
%
 
0.53
%
 
0.36
%
Average balance during the year
$
17,841

 
$
55,106

 
$
32,736

Average interest rate during the year
0.61
%
 
0.43
%
 
0.34
%
Maximum month-end balance during the year
$
52,000

 
$
83,500

 
$
65,000


In addition, the Company has repurchase agreements with certain of its deposit customers. The Company is required to hold U.S. Treasury, U.S. Agency or U.S. GSE securities as underlying securities for Repurchase Agreements. The following table summarizes the use of securities sold under agreements to repurchase at and for the years ended December 31.
 
(Dollars in thousands)
2016
 
2015
 
2014
 
 
 
 
 
 
Balance at year-end
$
35,864

 
$
29,156

 
$
21,742

Weighted average interest rate at year-end
0.20
%
 
0.20
%
 
0.20
%
Average balance during the year
$
38,546

 
$
30,156

 
$
19,186

Average interest rate during the year
0.20
%
 
0.20
%
 
0.20
%
Maximum month-end balance during the year
$
52,693

 
$
37,558

 
$
32,861

Fair value of securities underlying the agreements at year-end
56,201

 
35,470

 
38,337


Federal funds purchased and securities sold under agreements to repurchase generally mature within one day from the transaction date.