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Short-term borrowings | 12 Months Ended
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Dec. 31, 2019
Short-term borrowings |
Short-term borrowings | 11. Short-term borrowings: Short-term borrowings consisted of FHLB advances representing overnight borrowings or borrowings with original terms of less than twelve months at December 31, 2019, 2018 and 2017:
|  | At and for the year ended December 31, 2019 |
|  |  |  |  |  |  |  |  |  |  | Weighted |  | Weighted |
|  |  |  |  |  |  |  | Maximum |  | Average |  | Average |
|  | Ending |  | Average |  | Month-End |  | Rate for |  | Rate at End |
|  | Balance |  | Balance |  | Balance |  | the Year |  | of Year |
FHLB advances |  | $ | 152,150 |  | $ | 62,941 |  | $ | 152,150 |  | 2.61 | % | 1.84 | %
|  | At and for the year ended December 31, 2018 |
|  |  |  |  |  |  |  |  |  |  | Weighted |  | Weighted |
|  |  |  |  |  |  |  | Maximum |  | Average |  | Average |
|  | Ending |  | Average |  | Month-End |  | Rate for |  | Rate at End |
|  | Balance |  | Balance |  | Balance |  | the Year |  | of the Year |
FHLB advances |  | $ | 86,500 |  | $ | 133,834 |  | $ | 189,275 |  | 2.05 | % | 2.62 | %
|  | 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 Company 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, 2019, the maximum borrowing capacity was $723,608 of which $184,883 was outstanding in borrowings and $185,750 was used to issue standby letters of credit to collateralize public fund deposits. 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. The Company also has unsecured line of credit agreements with two correspondent banks, where the total line amount was $18,000 at December 31, 2019 and 2018. There were no amounts outstanding on either line of credit at December 31, 2019 or 2018. Interest on these borrowings accrues daily based on the daily federal funds rate.

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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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