Other Borrowings

12 Months Ended

Dec. 31, 2016

9. OTHER BORROWINGS

The following table summarizes the Company’s borrowings as of December 31, 2016 and 2015:



	December 31,
	2016		2015
	(in thousands)
Short-Term:
FHLB advances	80,000		150,000
Total short-term borrowings	$	80,000	$	150,000

The Company maintains other lines of credit with correspondent banks totaling $167.5 million, of which $22.5 million is secured by pledged securities and has a floating interest rate of one-month or three-month LIBOR plus 1.50%. The remaining $145.0 million is unsecured and has a floating interest rate of one-month LIBOR plus 3.25%. As of December 31, 2016 and 2015, there are no outstanding balances on the Company's lines of credit.

The Company maintains lines of credit with the FHLB and the FRB. The Company’s borrowing capacity is determined based on collateral pledged, generally consisting of investment securities and loans, at the time of the borrowing. At December 31, 2016, there are $80.0 million in short-term FHLB overnight advances, with a weighted average interest rate of 0.55%. At December 31, 2015, short-term FHLB advances of $150.0 million had a weighted average interest rate of 0.36%.

As of December 31, 2016 and 2015, the Company had additional available credit with the FHLB of approximately $2.15 billion and $1.54 billion, respectively, and with the FRB of approximately $997.0 million and $1.21 billion, respectively.