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Borrowed Funds (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Summary of borrowed funds

Borrowed funds consist of the following obligations at December 31:

	2019							2018
	Amount				Rate			Amount				Rate
FHLB advances	$	245,000			2.32	%		$	300,000			2.20	%
Securities sold under agreements to repurchase without stated maturity dates	30,999				0.09	%		40,299				0.11	%
Total	$	275,999			2.07	%		$	340,299			1.95	%

Federal home loan bank, advances

The following table lists the maturities and weighted average interest rates of FHLB advances as of December 31:

	2019							2018
	Amount				Rate			Amount				Rate
Fixed rate due 2019	$	—			—	%		$	100,000			1.94	%
Fixed rate due 2020	55,000				2.18	%		55,000				2.18	%
Fixed rate due 2021	50,000				1.91	%		50,000				1.91	%
Variable rate due 2021 (1)	10,000				2.20	%		10,000				2.93	%
Fixed rate due 2022	20,000				1.97	%		20,000				1.97	%
Fixed rate due 2023	45,000				2.97	%		35,000				3.17	%
Fixed rate due 2024	55,000				2.68	%		20,000				2.96	%
Fixed rate due 2026	10,000				1.17	%		10,000				1.17	%
Total	$	245,000			2.32	%		$	300,000			2.20	%

⁽¹⁾ Hedged advance (see “Derivative Instruments” section below)

Summary of short term borrowings

We had no FRB Discount Window advances for the years ended December 31, 2019 and 2018. The following table provides a summary of securities sold under repurchase agreements without stated maturity dates and federal funds purchased at December 31:

	2019											2018
	Maximum Month End Balance				Average Balance				Weighted Average Interest Rate During the Period			Maximum Month End Balance				Average Balance				Weighted Average Interest Rate During the Period
Securities sold under agreements to repurchase without stated maturity dates	$	37,441			$	31,406			0.10	%		$	63,133			$	38,036			0.10	%
Federal funds purchased	7,070				687				2.60	%		16,200				3,741				1.90	%

Summary of pledged financial instruments

We had pledged AFS securities and 1-4 family residential real estate loans in the following amounts at December 31:

	2019				2018
Pledged to secure borrowed funds	$	368,310			$	431,430
Pledged to secure repurchase agreements	31,020				40,316
Pledged for public deposits and for other purposes necessary or required by law	59,537				58,107
Total	$	458,867			$	529,853

AFS securities pledged to repurchase agreements without stated maturity dates consisted of the following at December 31:

	2019				2018
States and political subdivisions	$	31,020			$	23,268
Mortgage-backed securities	—				10,736
Collateralized mortgage obligations	—				6,312
Total	$	31,020			$	40,316

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following tables provide information on derivatives related to variable rate borrowings as of December 31:

	2019
	Pay Rate			Receive Rate		Remaining Life (Years)		Notional Amount				Balance Sheet Location		Fair Value
Derivatives designated as hedging instruments
Cash Flow Hedges:
Interest rate swaps	1.56	%		3-Month LIBOR		1.3		$	10,000			Other Assets		$	67

	2018
	Pay Rate			Receive Rate		Remaining Life (Years)		Notional Amount				Balance Sheet Location		Fair Value
Derivatives designated as hedging instruments
Cash Flow Hedges:
Interest rate swaps	1.56	%		3-Month LIBOR		2.3		$	10,000			Other Assets		$	323

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