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Short-term Borrowings | 9 Months Ended
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Sep. 30, 2018
Debt Disclosure [Abstract] |
Short-term Borrowings | Short-term borrowings: There were $255 million in short-term Federal Home Loan Bank Advances at September 30, 2018 with a weighted average interest rate of 2.27%. Short-term Federal Home Loan Bank Advances were $215 million at December 31, 2017. The Company had $8.7 million and $74.2 million in securities sold under repurchase agreements for the periods ended September 30, 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 September 30, 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:
(In Thousands of Dollars) | September 30, 2018 |  |  | December 31, 2017 |
Overnight and continuous repurchase agreements |  |  |  |  |  |  |
U.S. Treasury and U.S. government sponsored entities | $ | 574 |  |  | $ | 5,051 |
State and political subdivisions |  | 2,934 |  |  |  | 21,731 |
Mortgage-backed securities - residential |  | 5,102 |  |  |  | 46,133 |
Collateralized mortgage obligations - residential |  | 534 |  |  |  | 5,011 |
Total repurchase agreements | $ | 9,144 |  |  | $ | 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.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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