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FHLB Advances, Other Borrowings and Junior Subordinated Notes Payable | 3 Months Ended
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Mar. 31, 2015
Debt Disclosure [Abstract] |
FHLB Advances, Other Borrowings and Junior Subordinated Notes Payable | FHLB Advances, Other Borrowings and Junior Subordinated Notes Payable The composition of borrowed funds at March 31, 2015 and December 31, 2014 was as follows. Weighted average balances represent year-to-date averages.
|  | March 31, 2015 |  | December 31, 2014
|  | Balance |  | Weighted average balance |  | Weighted average rate |  | Balance |  | Weighted average balance |  | Weighted average rate
|  | (Dollars in Thousands)
Federal funds purchased |  | $ | — |  |  | $ | — |  |  | — | % |  | $ | — |  |  | $ | 237 |  |  | 0.82 | %
FHLB advances and other borrowings |  | 10,012 |  |  | 10,042 |  |  | 1.51 |  |  | 10,058 |  |  | 5,093 |  |  | 0.56 |
Line of credit |  | 1,510 |  |  | 521 |  |  | 3.24 |  |  | 1,010 |  |  | 13 |  |  | 3.30 |
Subordinated notes payable |  | 22,926 |  |  | 22,926 |  |  | 6.94 |  |  | 22,926 |  |  | 13,362 |  |  | 7.07 |
Junior subordinated notes |  | 10,315 |  |  | 10,315 |  |  | 10.64 |  |  | 10,315 |  |  | 10,315 |  |  | 10.78 |
|  | $ | 44,763 |  |  | $ | 43,804 |  |  | 6.55 |  |  | $ | 44,309 |  |  | $ | 29,020 |  |  | 7.24 |
Short-term borrowings |  | $ | 4,010 |  |  |  |  |  |  | $ | 2,010 |  |  |  |  |
Long-term borrowings |  | 40,753 |  |  |  |  |  |  | 42,299 |  |  |  |  |
|  | $ | 44,763 |  |  |  |  |  |  | $ | 44,309 |  |  |  |  |
As of March 31, 2015, the Corporation was in compliance with its debt covenants under its third party senior line of credit. Per the promissory note dated February 19, 2015, the Corporation pays a commitment fee on its secured senior line of credit. During the three months ended March 31, 2015 the Corporation incurred $3,000 additional interest expense due to this fee. Prior to February 19, 2015, the Corporation paid an unused line fee on its secured senior line of credit. During the three months ended March 31, 2014, the Corporation incurred $3,000 additional interest expense due to this fee.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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