Short-term borrowings:

There were $185 million in short-term Federal Home Loan Bank Advances at March 31, 2018 with a weighted average interest rate of 1.69%. Short-term Federal Home Loan Bank Advances were $215 million at December 31, 2017. The Company had $82.7 million and $74.2 million in securities sold under repurchase agreements for the periods ended March 31, 2018 and December 31, 2017, respectively. In addition, the Company had no Federal funds purchased and has a $350 thousand balance on business lines of credit with one lending institution at March 31, 2018 and December 31, 2017.

The following table provides a disaggregation of the obligation by the class of collateral pledged for short-term financing obtained through the sales of repurchase agreements. These pledged securities which are 105% of the repurchase agreement balances are shown below:

(In Thousands of Dollars)	March 31, 2018		December 31, 2017
Overnight and continuous repurchase agreements
U.S. Treasury and U.S. government sponsored entities	$	5,738	$	5,051
State and political subdivisions		27,887		21,731
Mortgage-backed securities - residential		47,668		46,133
Collateralized mortgage obligations - residential		5,502		5,011
Total repurchase agreements	$	86,795	$	77,926

Management believes the risks associated with the agreements are minimal and, in the case of collateral decline, the Company has additional investment securities available to adequately pledge as guarantees for the repurchase agreements.