Note

. Borrowings

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

	March 31, 2018					December 31, 2017
(Amounts in thousands)	Balance		Weighted Average Rate			Balance		Weighted Average Rate
Short-term borrowings
Retail repurchase agreements	$	4,115		0.09	%	$	5,086		0.07	%
Long-term borrowings
Wholesale repurchase agreements		25,000		3.18	%		25,000		3.18	%
FHLB advances		50,000		4.00	%		50,000		4.00	%
Total borrowings	$	79,115				$	80,086

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

March 31, 2018:

	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)		0.91		2.77		2.15

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

$903.13

million as of

March 31, 2018.

Unused borrowing capacity with the FHLB totaled

$392.85

million, net of FHLB letters of credit of

$130.58

million, as of

March 31, 2018.

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

March 31, 2018:

	U.S. Treasury Securities		U.S. Agency Securities		Municipal Securities		Mortgage-backed Agency Securities		Total
(Amounts in thousands)
Overnight and continuous	$	-	$	-	$	2,378	$	1,660	$	4,038
Up to 30 days		-		-		-		-		-
30 - 90 days		-		-		-		77		77
Greater than 90 days		9,000		4,680		-		11,320		25,000
	$	9,000	$	4,680	$	2,378	$	13,057	$	29,115

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 matured in

April 2018

and was renewed until

April 2019.

There was

outstanding balance on the line as of

March 31, 2018,

December 31, 2017.