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Short-term borrowings | 6 Months Ended
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Jun. 30, 2018
Short-term borrowings |
Short-term borrowings | 10. Short-term borrowings Short-term borrowings consisted of FHLB advances representing overnight borrowings at June 30, 2018 and December 31, 2017:
|  | At and for the six months ended June 30, 2018 |
|  |  |  |  |  |  |  |  |  |  | Weighted |  | Weighted |
|  |  |  |  |  |  |  | Maximum |  | Average |  | Average |
|  | Ending |  | Average |  | Month-End |  | Rate for |  | Rate at |
|  | Balance |  | Balance |  | Balance |  | the six months ended June 30, 2018 |  | 30-Jun-18 |
FHLB advances |  | $ | 187,450 |  | $ | 163,282 |  | $ | 189,275 |  | 1.86 | % | 2.10 | %
|  | 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 | %
The 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 June 30, 2018, the Bank’s maximum borrowing capacity was $664,403 of which $236,261 was outstanding in borrowings. At December 31, 2017, the Bank’s maximum borrowing capacity was $631,782 of which $173,409 was outstanding in borrowings. Short-term borrowings were used to fund our loan growth during the first six months of 2018 as deposit balances remained relatively flat. Short-term borrowings increased $63,775 since year end 2017. 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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