10. Short-Term Borrowings

As of December 31, 2018 and 2017, the Company did not have any outstanding short-term borrowings. The table below provides selected information for short-term borrowings during the years ended December 31, 2018, 2017 and 2016:


	Year Ended December 31,
(dollars in thousands)	2018			2017			2016
Federal funds purchased:
Weighted-average interest rate at December 31,		—	%		—	%		—	%
Highest month-end balance	$	374,875		$	6,000		$	—
Average outstanding balance	$	32,987		$	1,280		$	610
Weighted-average interest rate paid		2.18	%		0.97	%		0.25	%
Securities sold under agreements to repurchase:
Weighted-average interest rate at December 31,		—	%		—	%		0.54	%
Highest month-end balance	$	—		$	5,951		$	235,451
Average outstanding balance	$	—		$	893		$	112,937
Weighted-average interest rate paid		—	%		0.55	%		0.17	%
FHLB short-term advance:
Weighted-average interest rate at December 31,		—	%		—	%		—	%
Highest month-end balance	$	81,800		$	—		$	—
Average outstanding balance	$	6,929		$	—		$	—
Weighted-average interest rate paid		1.90	%		—	%		—	%

The Company treats securities sold under agreements to repurchase as collateralized financings. The Company reflects the obligations to repurchase the same or similar securities sold as liabilities, with the dollar amount of securities underlying the agreements remaining in the asset accounts. Generally, for these types of agreements, there is a requirement that collateral be maintained with a market value equal to or in excess of the principal amount borrowed. As such, the collateral pledged may be increased or decreased over time to meet contractual obligations. The securities underlying the agreements to repurchase are held in collateral accounts with a third-party custodian.

At December 31, 2018, the Company had a remaining line of credit of $1.3 billion available from the FHLB and an undrawn line of credit of $671.8 million available from the FRB.