10.	SHORT-TERM BORROWINGS

For t

he year ended

December 31,

outstanding balances and related information of short-term borrowings, which includes securities sold under agreements to repurchase and short-term borrowings from other banks, are summarized as follows:

(Dollar amounts in thousands)	2017			2016

Balance at year-end	$	74,707		$	68,359
Average balance outstanding		63,910			37,130
Maximum month-end balance		114,025			68,359
Weighted-average rate at year-end		1.36	%		0.61	%
Weighted-average rate during the year		1.18	%		0.89	%

Average balances outstanding during the year represent daily average balances, and average interest rates represent interest expense divided by the related average

balance.

The Company maintains a $

6.0

million line of credit at an adjustable rate, currently

4.75%,

$10.0

million line of credit at an adjustable rate, currently at

4.69%,

and a

$4.0

million line of credit at an adjustable rate, currently

4.74%.

December 31, 2017,

2016,

and

2015,

outstanding borrowings under these lines were

$0,

and

$9.5

million, respectively.

The following table provides additional detail regarding

collateral pledged to secure the Company’s repurchase agreements:

	Repurchase Agreements (Sweep) Accounted
	for as Secured Borrowings
(Dollar amounts in thousands)	Overnight and Continuous
	December 31, 2017		December 31, 2016
Repurchase agreements secured by:
Mortgage-backed securities in government sponsored entities	$	2,040	$	2,667
Tax-exempt obligations of states and political subdivisions		495		968
Gross amount of pledged collateral		2,535		3,635

Gross amount of recognized liabilities	$	1,989	$	2,129