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Short-term borrowings | 12 Months Ended
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Dec. 31, 2017
Short-term borrowings |
Short-term borrowings | 10. Short-term borrowings: Short-term borrowings consisted of FHLB advances representing overnight or less than 30-day borrowings at December 31, 2017 and 2016:
|  | At and for the year ended December 31, 2017 |
|  |  |  |  |  |  |  |  |  |  | Weighted |  | Weighted |
|  |  |  |  |  |  |  | Maximum |  | Average |  | Average |
|  | Ending |  | Average |  | Month-End |  | Rate for |  | Rate at End |
|  | Balance |  | Balance |  | Balance |  | the Year |  | of the Year |
FHLB advances |  | $ | 123,675 |  | $ | 76,846 |  | $ | 123,675 |  | 1.17 | % | 1.54 | %
|  | At and for the year ended December 31, 2016 |
|  |  |  |  |  |  |  |  |  |  | Weighted |  | Weighted |
|  |  |  |  |  |  |  | Maximum |  | Average |  | Average |
|  | Ending |  | Average |  | Month-End |  | Rate for |  | Rate at End |
|  | Balance |  | Balance |  | Balance |  | the Year |  | of the Year |
FHLB advances |  | $ | 82,700 |  | $ | 67,553 |  | $ | 86,300 |  | 0.60 |  | 0.74 | %
Peoples Bank has an agreement with the FHLB which allows for borrowings up to its maximum borrowing capacity based on a percentage of qualifying collateral assets. At December 31, 2017, Peoples Bank’s maximum borrowing capacity was $631,782 of which $173,409 was outstanding in borrowings. Advances with the FHLB are secured under terms of a blanket collateral agreement by a pledge of FHLB stock and certain other qualifying collateral, such as investments and mortgage-backed securities and mortgage loans. Interest accrues daily on the FHLB advances based on rates of the FHLB discount notes. This rate resets each day.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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