Note

Borrowings

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

	December 31,
	2017					2016
(Amounts in thousands)	Balance		Weighted Average Rate			Balance		Weighted Average Rate
Short-term borrowings
Retail repurchase agreements	$	5,086		0.07	%	$	73,005		0.07	%
Long-term borrowings
Wholesale repurchase agreements		25,000		3.18	%		25,000		3.18	%
FHLB advances		50,000		4.00	%		65,000		4.04	%
Other borrowings
Subordinated debt		-		-			15,464		3.65	%
Other debt		-					244
Total borrowings	$	80,086				$	178,713

The following schedule presents the contractual

and weighted average maturities of long-term borrowings, by year, as of

December 31, 2017:

	Wholesale Repurchase Agreements		FHLB Borrowings		Total
(Amounts in thousands)
2018	$	-	$	-	$	-
2019		25,000		-		25,000
2020		-		-		-
2021		-		50,000		50,000
2022		-		-		-
2023 and thereafter		-		-		-
Total	$	25,000	$	50,000	$	75,000

Weighted average maturity (in years)		1.15		3.02		2.40

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

an FHLB advance and letters of credit totaling

$917.24

million as of

December 31, 2017.

Unused borrowing capacity with the FHLB totaled

$411.20

million, net of FHLB letters of credit of

$126.58

million, as of

December 31, 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 early termination 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, 2017:

	U.S. Treasury Securities		U.S. Agency Securities		Municipal Securities		Mortgage-backed Agency Securities		Total
(Amounts in thousands)
Overnight and continuous	$	-	$	-	$	3,371	$	1,638	$	5,009
Up to 30 days		-		-		-		-		-
30 - 90 days		-		-		-		-		-
Greater than 90 days		9,000		4,680		-		11,397		25,077
Total	$	9,000	$	4,680	$	3,371	$	13,035	$	30,086

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

December 31, 2017,

December 31, 2016.