Note 10 –Borrowed Funds

The following is a summary of short-term borrowings with original maturities of less than one year:


(Dollars in thousands)	Three months ended March 31, 2019		Year ended December 31, 2018
Short-term Correspondent Bank Advance:
Overnight borrowings, weighted average interest rate of 2.70% at December 31, 2018	$	0	$	40,000

Securities sold under agreements to repurchase:
Outstanding at end of period	$	39,695	$	37,707
Weighted average interest rate at end of period		0.66%		0.24%
Maximum amount outstanding as of any month end	$	40,579	$	55,648
Average amount outstanding	$	37,624	$	44,045
Approximate weighted average rate during the period		0.69%		0.20%

At March 31, 2019, the repurchase agreements were secured by $52.1 million in investment securities issued by government related agencies. A minimum of 102% of fair value is pledged against account balances.

At March 31, 2019, the long-term FHLB advances were secured by $214.4 million in loans.