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Short-Term Borrowings
 12 Months Ended
Dec. 31, 2014
Short-Term Borrowings [Abstract]  
Short-Term Borrowings

Note 10: Short-term Borrowings

The Companys short-term borrowings consist of borrowings from the Federal Home Loan Bank (the FHLB), and securities sold under agreements to repurchase. The following table summarizes short-term borrowings at December 31, 2014 and 2013.

2014 2013
Weighted Weighted
Total Average Total Average
Principal Rate Principal

Rate
Federal Home Loan Bank Advances $ 293,800 0.45 % $ 292,690 0.78 %
Securities sold under agreements to repurchase 19,720 0.27 % 20,255 0.29 %
Total short-term borrowings $ 313,520 $ 312,945

Federal Home Loan Bank Borrowings: Information concerning short-term Federal Home Loan Bank borrowings for 2014 and 2013 is summarized below:

2014 2013
Average daily balance during the year $ 287,778 $ 238,234
Maximum month-end balance during the year $ 363,900 $ 292,690
Amount outstanding at end of year $ 293,800 $ 292,690

All short-term FHLB advances are fixed-rate instruments. Pursuant to an agreement with the FHLB, advances are collateralized by stock in the FHLB, investment securities and a blanket lien on qualified collateral, consisting primarily of loans with first mortgages secured by one to four family properties, and other qualifying assets such as certain commercial real estate loans. All short-term advances are payable at their call date or final maturity.


Securities Sold Under Agreements to Repurchase: Securities sold under agreements to repurchase generally mature within one to four days from the transaction date. Information concerning securities sold under agreements to repurchase for 2014, 2013 and 2012 is summarized below:

2014 2013 2012
Average daily balance during the year $ 16,851 $ 16,924 $ 17,946
Average interest rate during the year 0.27 % 0.29 % 0.32 %
Maximum month-end balance during the year $ 21,021 $ 21,376 $ 23,242
Amount outstanding at end of year $ 19,720 $ 20,255 $ 20,636

Securities collateralizing repurchase agreements, which are held in safekeeping by nonaffiliated financial institutions and not under the Bank's control, were as follows at December 31:

2014 2013 2012
Carrying value $ 38,552 $ 35,286 $ 36,661
Estimated fair value $ 39,669 $ 35,569 $ 38,227