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Other Borrowings
 12 Months Ended
Dec. 31, 2016
Other Borrowings [Abstract]  
Other Borrowings



Note 11. Other Borrowings

The Bank's short-term borrowings are comprised of securities sold under agreements to repurchase (Repo) and a line-of-credit with the Federal Home Loan Bank of Pittsburgh (Open Repo Plus). The Bank closed its Repo product on January 2, 2015 and the remaining balances were transferred to interest-bearing checking accounts. Open Repo Plus is a revolving term commitment used on an overnight basis.  The term of this commitment may not exceed 364 days and it reprices daily at market rates. These borrowings are described below:







 

 

 

 

 

 

 

 

 

 

 



December 31



2016

 

2015



Repurchase

 

FHLB

 

Repurchase

 

FHLB

(Dollars in thousands)

Agreements

 

Open Repo

 

Agreements

 

Open Repo

Ending balance

$

 -

 

$

 24,270 

 

$

 -

 

$

 -

Weighted average rate at year end

 

 -

 

 

 0.74% 

 

 

 -

 

 

 -

Range of interest rates paid at year end

 

 -

 

 

 0.74% 

 

 

 -

 

 

 -

Maximum month-end balance during the year

$

 -

 

$

 24,270 

 

$

 -

 

$

 3,500 

Average balance during the year

$

 -

 

$

 5,258 

 

$

 25 

 

$

 923 

Weighted average interest rate during the year

 

 -

 

 

 0.63% 

 

 

 0.15% 

 

 

 0.38% 



 

The Bank’s maximum borrowing capacity with the FHLB at December 31, 2016 was $278.6 million with $254.3 million available to borrow. The Bank has established credit at the Federal Reserve Discount Window and as of year-end had the ability to borrow approximately $23 million. The Bank also has a $6 million unsecured line of credit at a correspondent bank.