Borrowings

The Bank is a member of the FHLB and may borrow funds based on criteria established by the FHLB. The FHLB may call these borrowings if the adjusted collateral balance falls below the borrowing level. The borrowing arrangements available from the FHLB could be either short-term or long-term borrowings, depending upon the Bank’s related cost and needs.

Advances from the FHLB for the years ended December 31, 2017 and 2016 are summarized below:



	2017			2016
	(Dollars In Thousands)
Balance outstanding at end of year	$	135,000		$	189,000
Average balance outstanding	$	124,301		$	125,047
Maximum outstanding at any month-end	$	185,000		$	189,000
Average interest rate during the year	1.15		%	0.91		%
Average interest rate at end of year	1.36		%	0.91		%

The scheduled maturity dates and related fixed interest rates on advances from the FHLB at December 31, 2017 are summarized as follows (dollars in thousands):



Maturity Date	Interest Rate		Outstanding Amount
3/13/2018	1.47	%	$	65,000
3/27/2018	1.22	%	10,000
10/2/2018	1.02	%	10,000
11/26/2018	1.43	%	10,000
4/4/2019	1.13	%	20,000
10/2/2019	1.32	%	10,000
10/2/2020	1.54	%	10,000
			$	135,000

Information concerning securities sold under agreements to repurchase and federal funds purchased for the years ended December 31, 2017 and 2016 is summarized below:



	2017			2016
	(Dollars In Thousands)
Balance outstanding at end of year	$	51,052		$	57,009
Average balance outstanding	$	38,191		$	16,270
Maximum outstanding at any month-end	$	62,651		$	57,009
Average interest rate during the year	0.10		%	0.10		%
Average interest rate at end of year	0.10		%	0.68		%

Repurchase agreements totaled $51.1 million and $17.0 million at December 31, 2017 and 2016, respectively. They are classified as secured borrowings and generally mature within one business day from the transaction date. They are reflected as the amount of cash received in connection with the transaction. In addition, nothing in federal funds lines with other financial institutions were outstanding at December 31, 2017, leaving $62.5 million available for short-term funding needs. Federal funds purchased are overnight, unsecured borrowings.

The Bank has remaining lines of credit available with the FHLB which totaled $254.0 million at December 31, 2017. The FHLB advances are secured by a blanket floating lien on certain 1-4 family residential, HELOCS, second mortgages, commercial mortgages and investment securities with carrying values of $492.2 million at December 31, 2017.