Short-term Borrowings

12 Months Ended

Dec. 31, 2020

Short-term Debt [Abstract]

Short-term Borrowings

Short-term Borrowings

Short-term borrowings at December 31 were as follows:

	2020						2019						2018
	Ending Balance		Average Balance		Average Rate		Ending Balance		Average Balance		Average Rate		Ending Balance		Average Balance		Average Rate
	(dollars in thousands)
Federal funds purchased	$	—	$	4,147	1.06	%	$	—	$	8,069	2.53	%	$	11,000	$	8,801	2.05	%
Borrowings from FHLB	—		28,252		1.54		136,200		278,930		2.62		565,000		467,594		2.12
Securities sold under agreements to repurchase	117,373		110,235		0.21		65,653		104,548		0.75		145,823		142,562		0.44
Total	$	117,373	$	142,634	0.49		$	201,853	$	391,547	2.12		$	721,823	$	618,957	1.74
Maximum total at any month-end	$	248,471					$	670,831					$	811,026
Weighted average rate at year-end					0.10	%					1.41	%					2.17	%

Interest expense on short-term borrowings for the years ended December 31 is detailed below:

	2020		2019		2018
	(dollars in thousands)
Federal funds purchased	$	44	$	204	$	180
Borrowings from FHLB	434		7,313		9,929
Securities sold under agreements to repurchase	226		781		632
Total interest on short-term borrowings	$	704	$	8,298	$	10,741