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Short-term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2019
Summary of Long-term Advances from the Federal Home Loan Bank

At year end, long-term advances from the FHLB were as follows:

 

 

 

2019

 

 

2018

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

Average

 

 

 

Amount

 

 

Rate

 

 

Amount

 

 

Rate

 

Fixed-rate constant payment advance

 

$

2,841

 

 

 

1.70

%

 

$

3,775

 

 

 

1.70

%

Convertible and putable fixed-rate advance

 

 

40,000

 

 

 

1.79

%

 

 

0

 

 

 

0.00

%

Total advances

 

$

42,841

 

 

 

1.78

%

 

$

3,775

 

 

 

1.70

%
Summary of Securities Sold under Agreements to Repurchase The securities are held in segregated safekeeping accounts at the Federal Reserve Bank, Farmers Trust and the FHLB. Information concerning securities sold under agreements to repurchase is summarized as follows

 

 

2019

 

 

2018

 

 

2017

 

Average balance during the year

 

$

3,343

 

 

$

51,694

 

 

$

82,627

 

Average interest rate during the year

 

 

1.36

%

 

 

0.67

%

 

 

0.13

%

Maximum month-end balance during the year

 

$

5,505

 

 

$

87,163

 

 

$

94,208

 

Weighted average year-end interest rate

 

 

1.36

%

 

 

0.67

%

 

 

0.14

%

Balance at year-end

 

$

1,700

 

 

$

4,409

 

 

$

74,215

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Schedule Disaggregation of the Obligation by the Class of Collateral Pledged for Short-Term Financing Obtained Through the Sales of Repurchase Agreements

The following table provides a disaggregation of the obligation by class of collateral pledged for short-term financing obtained through the sales of repurchase agreements:

 

 

 

2019

 

 

2018

 

Overnight and continuous repurchase agreements

 

 

 

 

 

 

 

 

U.S. Treasury and U.S. government sponsored entities

 

$

55

 

 

$

332

 

State and political subdivisions

 

 

627

 

 

 

664

 

Mortgage-backed securities - residential

 

 

948

 

 

 

3,094

 

Collateralized mortgage obligations

 

 

70

 

 

 

319

 

Total borrowings

 

$

1,700

 

 

$

4,409

 
Pledged  
Summary of Long-term Advances from the Federal Home Loan Bank FHLB advances are secured by pledgings described in the following Long-Term Borrowings footnote.  Balances at year end were as follows:

 

 

2019

 

 

2018

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

Average

 

 

 

Amount

 

 

Rate

 

 

Amount

 

 

Rate

 

Repurchase advance

 

$

50,000

 

 

 

1.63

%

 

$

140,000

 

 

 

2.45

%

Fixed rate advances

 

 

25,000

 

 

 

0.72

%

 

 

100,000

 

 

 

2.54

%

Total advances

 

$

75,000

 

 

 

1.33

%

 

$

240,000

 

 

 

2.49

%