11. BORROWINGS

The following summarizes borrowed funds at March 31, 2016 and December 31, 2015 (dollars in thousands):

As of or for the Three Months Ended March 31, 2016	Federal Home Loan Bank Borrowings Short-Term			Federal Home Loan Bank Borrowings Long-Term			Federal Funds Purchased
Daily average outstanding	$	119,407		$	15,000		$	-
Total interest cost		176			66			-
Average interest rate paid		0.58	%		1.76	%		-	%
Maximum amount outstanding at any month-end	$	160,000		$	15,000		$	-
Ending balance		145,000			15,000			-
Weighted-average interest rate on balances outstanding		0.49	%		1.76	%		-	%

As of or for the Year Ended December 31, 2015	Federal Home Loan Bank Borrowings Short-Term			Federal Home Loan Bank Borrowings Long-Term			Federal Funds Purchased
Daily average outstanding	$	63,935		$	10,808		$	3
Total interest cost		252			190			-
Average interest rate paid		0.39	%		1.76	%		0.45	%
Maximum amount outstanding at any month-end	$	155,000		$	15,000		$	-
Ending balance		150,000			15,000			-
Weighted-average interest rateon balances outstanding		0.52	%		1.76	%		-	%

Assets pledged as collateral to the Federal Home Loan Bank (“FHLB”), consisting of eligible loans and investment securities, at March 31, 2016 and December 31, 2015 resulted in a maximum borrowing potential of $713 million and $746 million, respectively. The Company had $160 million and $165 million in FHLB borrowings at March 31, 2016 and December 31, 2015, respectively.