Borrowings (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Short term and Long term Borrowings and Subordinated Debentures

The following table summarizes the Company's short-term borrowings, long-term borrowings and subordinated debentures as presented on the consolidated statements of condition for the dates indicated:



	December 31, 2018				Contractual Maturity												December 31, 2017
	Outstanding Balance		Weighted Average Contract Rate		2019		2020		2021		2022		2023		Thereafter		Outstanding Balance		Weighted Average Contract Rate
Short-Term Borrowings:
FHLBB borrowings	$	25,000			$	25,000	$	—	$	—	$	—	$	—	$	—	$	250,000
Customer repurchase agreements	245,868				245,868		—		—		—		—		—		244,646
FHLBB and correspondent bank overnight borrowings	—				—		—		—		—		—		—		47,150
Total short-term borrowings	$	270,868	1.43	%	$	270,868	$	—	$	—	$	—	$	—	$	—	$	541,796	1.10	%
Long-Term Borrowings:
FHLBB borrowings	$	10,000	1.87	%	$	—	$	10,000	$	—	$	—	$	—	$	—	$	10,000	1.87	%
Capital lease obligation	1,580		4.20	%	89		96		106		115		123		1,051		791		4.06	%
Total long-term borrowings	$	11,580	2.19	%	$	89	$	10,096	$	106	$	115	$	123	$	1,051	$	10,791	2.03	%
Subordinated Debentures:
Subordinated debentures⁽¹⁾	$	14,634	5.50	%	$	—	$	—	$	—	$	—	$	—	$	14,634	$	14,580	5.50	%
CCTA	36,083		5.38	%	—		—		—		—		—		36,083		36,083		5.38	%
UBCT	8,350		4.14	%	—		—		—		—		—		8,350		8,248		4.14	%
Total subordinated debentures	$	59,067	5.23	%	$	—	$	—	$	—	$	—	$	—	$	59,067	$	58,911	5.24	%


(1)	The outstanding balance of subordinated debentures was presented net of debt issuance costs of $366,000 and $420,000 at December 31, 2018 and 2017, respectively.

Schedule of Federal Home Loan Bank Advances

The terms of the Company's outstanding FHLBB borrowings, including overnight funding, were as follows for the periods indicated:



	December 31,
	2018				2017
Stated Maturity	Outstanding Balance		Weighted Average Contractual Rate		Outstanding Balance		Weighted Average Contractual Rate
January 2018	$	—	—		$	247,150	1.54	%
February 2018	—		—		50,000		1.54	%
January 2019	25,000		2.71	%	—		—
April 2020	10,000		1.87	%	10,000		1.87	%
Total	$	35,000			$	307,150

The Company's outstanding FHLBB borrowings at December 31, 2018 and 2017 did not contain any call options.