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Short-Term Borrowings

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

Short-Term Borrowings

(9) Short-Term Borrowings

Short-term borrowings, which consist of federal funds purchased and other short-term borrowings are summarized as follows:

		At September 30, 2015								At December 31, 2014
		Federal Funds Purchased				Short-term Borrowings				Federal Funds Purchased				Short-term Borrowings
Outstanding balance		$	—			$	54,700			$	—			$	42,700
Maximum indebtedness			25,000				64,700				—				42,700
Average balance			93				21,938				41				1,951
Average rate paid			0.54	%			0.18	%			0.54	%			0.19	%
Interest rate on balance			0.00	%			0.19	%			—				0.14	%

Outstanding during the year represent daily averages. Average interest rates represent interest expense divided by the related average balances.

These borrowing transactions can range from overnight to six months in maturity. The average maturity was one day at September 30, 2015 and December 31, 2014.

Securities sold under agreements to repurchase are used to facilitate the needs of our customers as well as to facilitate our short-term funding needs. Securities sold under repurchase agreements are carried at the amount of cash received in association with the agreement. We continuously monitor the collateral levels and may be required, from time to time, to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents.

The following table presents detail regarding the securities pledged as collateral under repurchase agreements as of September 30, 2015 and December 31, 2014. All of the repurchase agreements are overnight agreements.

		September 30, 2015				December 31, 2014
Securities pledged for repurchase agreements:
U.S. Treasury securities		$	813			$	876
Obligations of U.S. government agencies			20,074				20,737
Total securities pledged		$	20,887			$	21,613
Gross amount of recognized liabilities for repurchase agreements		$	20,887			$	21,613
Amounts related to agreements not included in offsetting disclosures above		$	—			$	—

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- References

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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

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