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FHLB Advances, Other Borrowings and Junior Subordinated Notes Payable | 6 Months Ended
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Jun. 30, 2016
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 June 30, 2016 and December 31, 2015 is shown below. Average balances represent year-to-date averages.
|  | June 30, 2016 |  | December 31, 2015
|  | Balance |  | Average balance |  | Weighted average rate |  | Balance |  | Average balance |  | Weighted average rate
|  | (Dollars in Thousands)
Federal funds purchased |  | $ | — |  |  | $ | 151 |  |  | 0.91 | % |  | $ | — |  |  | $ | 237 |  |  | 0.86 | %
FHLB advances and other borrowings |  | 7,490 |  |  | 12,650 |  |  | 1.72 |  |  | 9,790 |  |  | 15,457 |  |  | 1.14 |
Senior line of credit |  | 3,610 |  |  | 3,441 |  |  | 3.23 |  |  | 2,510 |  |  | 1,619 |  |  | 3.18 |
Subordinated notes payable |  | 22,470 |  |  | 22,453 |  |  | 7.14 |  |  | 22,440 |  |  | 22,410 |  |  | 7.14 |
Junior subordinated notes |  | 9,997 |  |  | 9,993 |  |  | 11.10 |  |  | 9,990 |  |  | 9,982 |  |  | 11.14 |
|  | $ | 43,567 |  |  | $ | 48,688 |  |  | 6.28 |  |  | $ | 44,730 |  |  | $ | 49,705 |  |  | 5.94 |
Short-term borrowings |  | $ | 5,610 |  |  |  |  |  |  | $ | 7,010 |  |  |  |  |
Long-term borrowings |  | 37,957 |  |  |  |  |  |  | 37,720 |  |  |  |  |
|  | $ | 43,567 |  |  |  |  |  |  | $ | 44,730 |  |  |  |  |
As of June 30, 2016, the Corporation was in compliance with its debt covenants under its third-party secured senior line of credit. Per the promissory note dated February 19, 2016, the Corporation pays a commitment fee on this senior line of credit. During the six months ended June 30, 2016 and 2015, the Corporation incurred additional interest expense due to this fee of $6,600 and $6,400, respectively.

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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 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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