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Borrowings (Tables)
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Information Related to Credit Agreements

The following table presents information related to our credit agreements (dollars in thousands):

 

 

Years Ended December 31,

 

 

2020

 

 

2019

 

 

2018

 

Average daily utilization

$

45,779

 

 

$

87,800

 

 

$

106,189

 

Interest expense (1)

$

1,399

 

 

$

3,465

 

 

$

3,817

 

Weighted average interest rate (1)

 

3.1

%

 

 

3.9

%

 

 

3.6

%

 

(1)

Excludes the amortization of deferred loan fees and includes the commitment fee.