Note

Borrowings

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

	June 30, 2017					December 31, 2016
(Amounts in thousands)	Balance		Weighted Average Rate			Balance		Weighted Average Rate
Short-term borrowings
Retail repurchase agreements	$	61,011		0.07	%	$	73,005		0.07	%
Long-term borrowings
Wholesale repurchase agreements		25,000		3.18	%		25,000		3.18	%
Long-term FHLB advances		50,000		4.00	%		65,000		4.04	%
Other borrowings
Subordinated debt		-		-			15,464		3.65	%
Other debt		-					244
Total borrowings	$	136,011				$	178,713

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

June 30, 2017:

	Wholesale Repurchase Agreements		FHLB Borrowings		Total
(Amounts in thousands)
2017	$	-	$	-	$	-
2018		-		-		-
2019		25,000		-		25,000
2020		-		-		-
2021		-		50,000		50,000
2022 and thereafter		-		-		-
Total long-term borrowings	$	25,000	$	50,000	$	75,000

Weighted average maturity (in years)		1.66		3.52		2.90

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

$1.01

billion as of

June 30, 2017.

Unused borrowing capacity with the FHLB totaled

$509.23

million, net of FHLB letters of credit of

$77.42

million, as of

June 30, 2017.

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

June 30, 2017:

	U.S. Agency Securities		U.S. Treasury Securities		Municipal Securities		Mortgage-backed Agency Securities		Total
(Amounts in thousands)
Overnight and continuous	$	13,173	$	2,634	$	39,296	$	5,255	$	60,358
Up to 30 days		-		-		-		-		-
30 - 90 days		-		-		-		9		9
Greater than 90 days		3,400		9,000		-		13,244		25,644
	$	16,573	$	11,634	$	39,296	$	18,508	$	86,011

The Company issued

$15.46

million of junior subordinated debentures (“Debentures”) to FCBI Capital Trust (the “Trust”), an unconsolidated subsidiary, in

October 2003

with an interest rate of

three

-month London InterBank Offered Rate (“LIBOR”) plus

2.95%

and a

-year term ending in

October 2033

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. During the

first

quarter of

2017,

the Company redeemed all

$15.46

million of its trust preferred securities issued through the Trust.

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%

that matures in

April 2018.

There was

outstanding balance on the line as of

June 30, 2017,

December 31, 2016.