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Short-Term Debt
 12 Months Ended
Dec. 31, 2020
Short-term Debt [Abstract]  
Short-Term Debt SHORT-TERM DEBT
    A summary of the Company's short-term borrowings is as follows (dollars in thousands):

202020192018
Balance at end of year:
Federal Home Loan Bank advances$— $— $40,000 
Securities sold under agreements to repurchase295,956 211,255 221,911 
Federal Funds purchased— — — 
Avg. outstanding during the year:
Federal Home Loan Bank advances$151 $10,752 $74,102 
Securities sold under agreements to repurchase253,289 200,697 190,702 
Federal Funds purchased16 3 353 
Max. outstanding at any month end:
Federal Home Loan Bank advances$9,900 $154,000 $185,000 
Securities sold under agreements to repurchase295,956 226,603 221,911 
Federal Funds purchased— — 10,000 
Weighted-average interest rate:
During the year:
Federal Home Loan Bank advances0.85 %2.72 %2.21 %
Securities sold under agreements to repurchase0.39 1.59 0.93 
Federal Funds purchased0.83 2.84 2.10 
End of the year:
Federal Home Loan Bank advances0.41 %1.85 %2.76 %
Securities sold under agreements to repurchase0.34 1.51 0.80 
Federal Funds purchased— — — 
 
Through City National, the Company has approximately 37,000 shares of Federal Home Loan Bank ("FHLB") stock at par value as of December 31, 2020. Purchases of FHLB stock are required based on City National’s maximum borrowing capacity with the FHLB.  Additionally, FHLB stock entitles the Company to dividends declared by the FHLB and provides an additional source of short-term and long-term funding in the form of collateralized advances. Financing obtained from the FHLB is based, in part, on the amount of qualifying collateral available, specifically 1-4 family residential mortgages, other residential mortgages, and commercial real estate and other non-residential mortgage loans. Collateral pledged to the FHLB included approximately $2.2 billion at December 31, 2020 and $2.3 billion at December 31, 2019 in investment securities and 1-4 family residential property loans.  In addition to the short-term financing discussed above, City National had an additional $2.0 billion and $1.9 billion available from unused portions of lines of credit with the FHLB and other financial institutions at December 31, 2020 and 2019, respectively.
    Securities sold under agreements to repurchase include interests in government agency and municipal securities. These agreements mature daily at par.