Borrowings (Tables)

9 Months Ended

Sep. 30, 2015

The following table presents the composition of borrowings as of the dates indicated:


	September 30, 2015					December 31, 2014
	Balance		Weighted Average Rate⁽¹⁾			Balance		Weighted Average Rate⁽¹⁾
(Amounts in thousands)
Federal funds purchased	$	—		—		$	—		0.34	%
Securities sold under agreements to repurchase:
Retail		74,076		0.10	%		71,742		0.13	%
Wholesale		50,000		3.71	%		50,000		3.71	%

Total securities sold under agreements to repurchase		124,076					121,742
FHLB borrowings		65,000		4.04	%		90,000		4.07	%
Subordinated debt		15,464					15,464
Other debt		491					2,535

Total borrowings	$	205,031				$	229,741

(1)	Weighted average contractual rate

Schedule of Remaining Contractual Maturities of Repurchase Agreements by Type of Collateral Pledged

The following schedule presents the remaining contractual maturities of repurchase agreements, by type of collateral pledged, as of September 30, 2015:


	Overnight and Continuous		Up to 30 Days		30-90 Days		Greater Than 90 Days		Total
(Amounts in thousands)
U.S. Agency securities	$	57,535	$	—	$	—	$	—	$	57,535
Municipal securities		—		—		—		546		546
Mortgage-backed Agency securities		15,042		202		170		50,581		65,995

Total	$	72,577	$	202	$	170	$	51,127	$	124,076

Contractual Maturities of Wholesale Repurchase Agreements and FHLB Borrowings, by Year

The following schedule presents the contractual maturities of wholesale repurchase agreements and FHLB borrowings, by year, as of September 30, 2015:


	Wholesale Repurchase Agreements		FHLB Borrowings		Total
(Amounts in thousands)
2015	$	—	$	—	$	—
2016		25,000		—		25,000
2017		—		15,000		15,000
2018		—		—		—
2019		25,000		—		25,000
2020 and thereafter		—		50,000		50,000

	$	50,000	$	65,000	$	115,000

Weighted average maturity (in years)		2.33		4.42		3.51