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Short-Term and Federal Home Loan Bank Borrowings | 9 Months Ended
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Sep. 30, 2020
Short-Term and Federal Home Loan Bank Borrowing |
Short-Term and Federal Home Loan Bank Borrowings | 11. Short-Term and Federal Home Loan Bank Borrowings Total short-term and Federal Home Loan Bank (FHLB) borrowings and advances consist of the following (in thousands, except percentages):
|  | At September 30, 2020 |
|  |  |  |  |  |  | Weighted |
Type |  | Maturing |  | Amount |  | Average Rate |
Federal Funds Purchased |  | Overnight |  | $ | 2,000 |  | 0.65 | %
Open Repo Plus |  | Overnight |  |  | 3,894 |  | 0.39 |
FHLB Advances |  | 2020 |  |  | 11,187 |  | 0.95 |
|  | 2021 |  |  | 22,496 |  | 1.08 |
|  | 2022 |  |  | 20,888 |  | 2.03 |
|  | 2023 |  |  | 15,568 |  | 1.59 |
|  | 2024 |  |  | 4,197 |  | 1.19 |
Total FHLB advances |  |  |  |  | 74,336 |  | 1.44 |
Total short-term and FHLB borrowings |  |  |  | $ | 80,230 |  | 1.37 | %
|  | At December 31, 2019 |
|  |  |  |  |  |  | Weighted |
Type |  | Maturing |  | Amount |  | Average Rate |
Open Repo Plus |  | Overnight |  | $ | 22,412 |  | 1.81 | %
FHLB Advances |  | 2020 |  |  | 18,729 |  | 1.75 |
|  | 2021 |  |  | 9,496 |  | 2.28 |
|  | 2022 |  |  | 17,838 |  | 2.21 |
|  | 2023 |  |  | 5,568 |  | 2.48 |
|  | 2024 |  |  | 2,037 |  | 1.86 |
Total FHLB advances |  |  |  |  | 53,668 |  | 2.08 |
Total short-term and FHLB borrowings |  |  |  | $ | 76,080 |  | 2.00 | %
The rate on Open Repo Plus advances can change daily, while the rates on the advances are fixed until the maturity of the advance. All FHLB stock along with an interest in certain residential mortgage, commercial real estate, and commercial and industrial loans with an aggregate statutory value equal to the amount of the advances are pledged as collateral to the FHLB of Pittsburgh to support these borrowings.

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- Definition The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13(a)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details
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