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Borrowed Funds | 6 Months Ended
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Jun. 30, 2020
Borrowed Funds [Abstract] |
Borrowed Funds | Note 10 – Borrowed Funds The following is a summary of short-term borrowings with original maturities of less than one year:
(Dollars in thousands) |  | Six Months ‎Ended ‎June 30, 2020 |  | Year Ended ‎December 31, 2019
Securities sold under agreements to repurchase: |  |  |  |  |  |
Outstanding at end of period |  | $ | 36,001 |  | $ | 48,728
Weighted average interest rate at end of period |  |  | 0.27% |  |  | 0.23%
Maximum amount outstanding as of any month end |  | $ | 45,604 |  | $ | 50,345
Average amount outstanding |  | $ | 42,973 |  | $ | 39,778
Approximate weighted average rate during the period |  |  | 0.23% |  |  | 0.28%
At June 30, 2020, the repurchase agreements were secured by $61.4 million in investment securities issued by government related agencies. A minimum of 102% of fair value is pledged against account balances. At June 30, 2020, the long-term advances from the Federal Home Loan Bank of Atlanta (“FLHB”) were secured by $228.1 million in loans.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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