Note 11.

Borrowings

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


	December 31,
	2016					2015
(Amounts in thousands)	Balance		Weighted Average Rate			Balance		Weighted Average Rate
Short-term borrowings
Retail repurchase agreements	$	73,005		0.07	%	$	88,614		0.10	%
Long-term borrowings
Wholesale repurchase agreements		25,000		3.18	%		50,000		3.71	%
Long-term FHLB advances		65,000		4.04	%		65,000		4.04	%
Other borrowings
Subordinated debt		15,464		3.65	%		15,464		3.23	%
Other debt		244					292

Total borrowings	$	178,713				$	219,370

The following schedule presents the contractual and weighted average maturities of long-term borrowings, by year, as of December 31, 2016:


(Amounts in thousands)	Wholesale Repurchase Agreements		FHLB Borrowings		Total
2017	$	—	$	15,000	$	15,000
2018		—		—		—
2019		25,000		—		25,000
2020		—		—		—
2021		—		50,000		50,000
2022 and thereafter		—		—		—

	$	25,000	$	65,000	$	90,000

Weighted average maturity (in years)		2.15		3.17		2.89

The FHLB may redeem callable advances at quarterly intervals, which could substantially shorten the advances’ lives. If called, the advance may be paid in full or converted into another FHLB credit product. Prepayment of an advance may result in substantial penalties based on the differential between the contractual note and current advance rate for similar maturities. The Company pledged certain loans to secure FHLB advances and letters of credit totaling $1.03 billion as of December 31, 2016. Unused borrowing capacity with the FHLB totaled $558.75 million, net of FHLB letters of credit $75.72 million, as of December 31, 2016. The FHLB letters of credit provide an attractive alternative to pledging securities for public unit deposits.

Investment securities pledged to secure repurchase agreements remain under the Company’s control during the agreements’ terms. The counterparties may redeem callable repurchase agreements, which could substantially shorten the borrowings’ lives. The prepayment or unwind of a repurchase agreement may result in substantial penalties based on market conditions.

The following schedule presents the contractual maturities of repurchase agreements, by type of collateral pledged, as of December 31, 2016:


(Amounts in thousands)	U.S. Agency Securities		Municipal Securities		Mortgage-backed Agency Securities		Total
Overnight and continuous	$	18,680	$	44,414	$	7,821	$	70,915
Up to 30 days		—		—		—		—
30 — 90 days		—		—		—		—
Greater than 90 days		—		1,204		25,886		27,090

	$	18,680	$	45,618	$	33,707	$	98,005

Subordinated debt consists of $15.46 million of junior subordinated debentures (“Debentures”) the Company issued to the Trust in October 2003 with an interest rate of three-month London InterBank Offered Rate (“LIBOR”) plus 2.95%. The Debentures mature on October 8, 2033, and are callable quarterly. The Trust purchased the Debentures through the issuance of trust preferred securities, which had substantially identical terms as the Debentures. Net proceeds from the offering were contributed as capital to the Bank to support further growth. The Company’s obligations under the Debentures and other relevant Trust agreements, in aggregate, constitute a full and unconditional guarantee of the Trust’s obligations. The preferred securities issued by the Trust are not included in the consolidated balance sheets; however, these securities qualify as Tier 1 capital for regulatory purposes, subject to guidelines issued by the Board of Governors of the Federal Reserve System (“Federal Reserve”). The Federal Reserve’s quantitative limits did not prevent the Company from including all $15.46 million in trust preferred securities outstanding in Tier 1 capital as of December 31, 2016 and 2015. On January 9, 2017, the Company redeemed all of its trust preferred securities.

In addition, the Company maintains a $15.00 million unsecured, committed line of credit with an unrelated financial institution with an interest rate of one-month LIBOR plus 2.00% and an April 2017 maturity. There was no outstanding balance on the line as of December 31, 2016, or December 31, 2015.