FHLB Advances, Other Borrowings and Junior Subordinated Notes Payable

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

FHLB Advances, Other Borrowings and Junior Subordinated Notes Payable

FHLB Advances, Other Borrowings and Junior Subordinated Notes

The composition of borrowed funds is shown below. Average balances represent year to date averages.

	March 31, 2019						December 31, 2018
	Balance		Weighted Average Balance		Weighted Average Rate		Balance		Weighted Average Balance		Weighted Average Rate
	(Dollars in Thousands)
Federal funds purchased	$	—	$	—	—	%	$	—	$	119	2.43	%
FHLB advances	245,500		267,989		2.16		274,500		274,382		2.06
Line of credit	—		—		—		—		3		4.47
Other borrowings	675		675		8.00		675		675		7.94
Subordinated notes payable	23,783		23,774		6.63		23,769		23,739		6.64
Junior subordinated notes	10,037		10,034		10.92		10,033		10,025		11.10
	$	279,995	$	302,472	2.82		$	308,977	$	308,943	2.72
Short-term borrowings	$	119,000					$	136,500
Long-term borrowings	160,995						172,477
	$	279,995					$	308,977

As of March 31, 2019 and December 31, 2018, the Corporation was in compliance with its debt covenants under its third-party secured senior line of credit. Per the promissory note dated February 19, 2019, the Corporation pays a commitment fee on this line of credit. During both the three months ended March 31, 2019 and 2018, the Corporation incurred interest expense due to this fee of $3,000.