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SHORT-TERM BORROWINGS | 12 Months Ended
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Dec. 31, 2018
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) | 2018 |  | 2017 |  | 2016
Balance at year-end | $ | 55,000 |  | $ | 50,000 |  | $ | 52,000
Weighted average interest rate at year-end | 2.76 | % |  | 1.21 | % |  | 0.76 | %
Average balance during the year | $ | 71,457 |  | $ | 54,610 |  | $ | 17,841
Average interest rate during the year | 2.09 | % |  | 1.08 | % |  | 0.61 | %
Maximum month-end balance during the year | $ | 103,000 |  | $ | 72,000 |  | $ | 52,000
The Company enters into borrowing arrangements with certain of its deposit customers by agreements to repurchase ("repurchase agreements") under which the Company pledges investment securities owned and under its control as collateral against the borrowing arrangement, which generally matures within one day from the transaction date. 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 provides additional details for repurchase agreements at and for the years ended December 31.
(Dollars in thousands) | 2018 |  | 2017 |  | 2016
Balance at year-end | $ | 9,069 |  | $ | 43,576 |  | $ | 35,864
Weighted average interest rate at year-end | 1.22 | % |  | 0.56 | % |  | 0.20 | %
Average balance during the year | $ | 9,715 |  | $ | 43,205 |  | $ | 38,546
Average interest rate during the year | 0.82 | % |  | 0.45 | % |  | 0.20 | %
Maximum month-end balance during the year | $ | 14,591 |  | $ | 55,270 |  | $ | 52,693
Fair value of securities underlying the agreements at year-end | 17,942 |  | 53,485 |  | 56,201

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- Definition The entire disclosure for short-term debt. + 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 + Details
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