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Short-term Borrowings | 12 Months Ended
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Dec. 31, 2019
Short-term Debt: |
Short-term Debt Text Block | NOTE 9: SHORT-TERM BORROWINGS At December 31, 2019 and 2018, the composition of short-term borrowings is presented below.
| 2019 |  |  | 2018 |
|  |  |  | Weighted |  |  |  |  |  | Weighted |
(Dollars in thousands) |  | Amount |  | Avg. Rate |  |  |  | Amount |  | Avg. Rate |
Federal funds purchased: |  |  |  |  |  |  |  |  |  |  |
As of December 31 | $ | — |  | — |  |  | $ | — |  | — |
Average during the year |  | 1 |  | 2.58 | % |  |  | 2 |  | 2.50 | %
Maximum outstanding at |  |  |  |  |  |  |  |  |  |  |
any month-end |  | — |  |  |  |  |  | — |  |  |
Securities sold under |  |  |  |  |  |  |  |  |  |  |
agreements to repurchase: |  |  |  |  |  |  |  |  |  |  |
As of December 31 | $ | 1,069 |  | 0.50 | % |  | $ | 2,300 |  | 0.50 | %
Average during the year |  | 1,442 |  | 0.50 | % |  |  | 2,632 |  | 0.50 | %
Maximum outstanding at |  |  |  |  |  |  |  |  |  |  |
any month-end |  | 2,261 |  |  |  |  |  | 3,241 |  |  |
Federal funds purchased represent unsecured overnight borrowings from other financial institutions by the Bank. The Bank had available federal fund lines totaling $41.0 million with none outstanding at December 31, 2019. Securities sold under agreements to repurchase represent short-term borrowings with maturities less than one year collateralized by a portion of the Company’s securities portfolio. Securities with an aggregate carrying value of $2.6 million and $5.6 million at December 31, 2019 and 2018, respectively, were pledged to secure securities sold under agreements to repurchase.

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- Definition The entire disclosure for short-term debt. + 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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