Short-Term Borrowings (Tables)

3 Months Ended

Mar. 31, 2020

Summary of Federal Funds Purchased and Other Short-term Borrowings are Included in Federal Home Loan Bank Advances on Consolidated Balance Sheets

Short-term borrowings, which consist of federal funds purchased and other short-term borrowings, are included in Federal Home Loan Bank advances on the Consolidated Balance Sheets and are summarized as follows:

	At March 31, 2020						At March 31, 2019
	Federal Funds Purchased			Short-term Borrowings			Federal Funds Purchased		Short-term Borrowings
Outstanding balance	$	—		$	17,000		$	—	$	122,100
Interest rate on balance		—			0.14	%		—		2.51	%
Maximum indebtedness		37,000			102,700			—		192,700
Average balance		610			32,749			—		92,267
Average rate paid		1.32	%		1.65	%		—		2.51	%

Summary of Securities Pledged as Collateral Under Repurchase Agreements

The following table presents detail regarding the securities pledged as collateral under repurchase agreements as of March 31, 2020 and December 31, 2019. All of the repurchase agreements are overnight agreements.

	March 31, 2020		December 31, 2019
Securities pledged for repurchase agreements:
U.S. Treasury securities	$	865	$	810
Obligations of U.S. government agencies		21,834		17,864
Total securities pledged	$	22,699	$	18,674
Gross amount of recognized liabilities for repurchase agreements	$	22,699	$	18,674
Amounts related to agreements not included in offsetting disclosures above	$	—	$	—