Note 11. Other Borrowings and Unused Lines of Credit

Other borrowings as of December 31, 2019 and 2018 are summarized as follows:


	2019		2018
	(dollars in thousands)

Wholesale structured repurchase agreements	$	—	$	35,000
Term notes		—		23,250
Revolving line of credit		—		9,000
	$	—	$	67,250

The Company prepaid two wholesale structured repurchase agreements in the second quarter of 2019 using excess funds generated by strong deposit growth. The first wholesale structured repurchase agreement totaled $5.0 million and had an original maturity date of March 13, 2020 with a rate of 2.58%. The second wholesale structured

repurchase agreement totaled $20.0 million and had an original maturity of June 13, 2020 with a rate of 2.46%. The loss on the prepayment of the wholesale structured repurchase agreements totaled $50 thousand. In addition, wholesale repurchase agreements totaling $10.0 million matured in the second quarter of 2019. The wholesale structured repurchase agreements were utilized as an alternative funding source to FHLB advanes and customer deposits. Wholesale structured repurchase agreements were collateralized by certain U.S. government agency securities and residential mortgage backed and related securities with carrying values as follows:


	2019		2018
	(dollars in thousands)

U.S. govt. sponsored agency securities	$	—	$	—
Residential mortgage-backed and related securities		—		38,870
Total securities pledged to wholesale customer repurchase agreements		—		38,870
Less: overcollateralized position		—		3,870
	$	—	$	35,000

The Company had two term notes totaling $23.3 million at December 31, 2018 with original maturity dates of December 31, 2021. Interest on the term notes were calculated at the effective LIBOR rate plus 3.00% per annum (5.52% at December 31, 2018). The collateral on both borrowings was the original stock certificates and stock powers of all bank subsidiaries. In February 2019, immediately following the subordinated note issuance, the Company repaid the term notes.

In the second quarter of 2019, the Company renewed its revolving line of credit. At renewal, the line amount was increased from $10.0 million to $20.0 million for which there is no outstanding balance as of December 31, 2019. Interest on the revolving line of credit is calculated at the effective LIBOR rate plus 2.25% per annum (4.01% at December 31, 2019). The collateral on the revolving line of credit is 100% of the outstanding capital stock of the Compnay’s bank subsidiaries.

Note 11. Other Borrowings and Unused Lines of Credit (continued)

Unused lines of credit of the subsidiary banks as of December 31, 2019 and 2018 are summarized as follows:


	2019		2018
	(dollars in thousands)

Secured	$	45,342	$	1,690
Unsecured		335,300		362,000
	$	380,642	$	363,690

The Company pledges select C&I and CRE loans to the Federal Reserve Bank of Chicago for borrowing as part of the Borrower-In-Custody program.