(9.) BORROWINGS

Outstanding borrowings are summarized as follows as of December 31 (in thousands):


		2014		2013
Short-term borrowings:
Repurchase agreements	$	39,504	$	39,042
Short-term FHLB borrowings		295,300		298,000
Total short-term borrowings	$	334,804	$	337,042

The Company classifies borrowings as short-term or long-term in accordance with the original terms of the agreement. There were no long-term borrowings outstanding as of December 31, 2014 and 2013. At December 31, 2014 and 2013, the Company's borrowings had a weighted average rate of 0.35% and 0.38%, respectively.

Repurchase agreements are secured overnight borrowings with customers. Short-term FHLB borrowings have original maturities of less than one year and include overnight borrowings that we typically utilize to address short term funding needs as they arise. Short-term FHLB borrowings at December 31, 2014 consisted of $129.0 million in overnight borrowings and $166.3 million in short-term advances. Short-term FHLB borrowings at December 31, 2013 consisted of $198.0 million in overnight borrowings and $100.0 million in short-term advances. The FHLB borrowings are collateralized by securities from the Company's investment portfolio and certain qualifying loans.