Note 10 – Borrowed Funds

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



(Dollars in thousands)	Nine Months Ended September 30, 2019		Year Ended December 31, 2018
Short-term Correspondent Bank Advance:
Overnight borrowings, weighted average interest rate of 2.70% at December 31, 2018	$	—	$	40,000
Securities sold under agreements to repurchase:
Outstanding at end of period	$	50,345	$	37,707
Weighted average interest rate at end of period		0.21%		0.24%
Maximum amount outstanding as of any month end	$	50,345	$	55,648
Average amount outstanding	$	37,451	$	44,045
Approximate weighted average rate during the period		0.29%		0.20%

At September 30, 2019, the repurchase agreements were secured by $58.4 million in investment securities issued by government related agencies. A minimum of 102% of fair value is pledged against account balances.

At September 30, 2019, the long-term FHLB advances were secured by $209.7 million in loans.