BORROWING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2018

Information related to borrowings is provided in the table below (dollars in thousands):



	December 31, 2018			December 31, 2017
Federal funds purchased and repurchase agreements:
Balance at end of period	$	36,810		$	9,498
Average amount outstanding during the period⁽¹⁾	10,880			8,120
Maximum amount outstanding during the period⁽²⁾	36,810			9,498
Weighted average interest rate during the period⁽³⁾	1.4		%	0.2		%
Interest rate at end of period ⁽⁴⁾	2.1		%	0.2		%

FHLB borrowings:
Balance at end of period	$	719,065		$	1,017,361
Average amount outstanding during the period ⁽¹⁾	720,785			1,222,033
Maximum amount outstanding during the period ⁽²⁾	957,231			1,414,453
Weighted average interest rate during the period ⁽³⁾	1.8		%	1.2		%
Interest rate at end of period ⁽⁴⁾	2.3		%	1.4		%


(1)	The average amount outstanding during the period was computed by dividing the total daily outstanding principal balances by the number of days in the period.


(2)	The maximum amount outstanding at any month-end during the period.


(3)	The weighted average interest rate during the period was computed by dividing the actual interest expense by the average amount outstanding during the period. The weighted average interest rate on the FHLB borrowings includes the effect of interest rate swaps.


(4)	Stated rate.

Schedule of maturities of borrowings

Maturities of the obligations associated with our borrowing arrangements based on scheduled repayments at December 31, 2018 are as follows (in thousands):



	Payments Due by Period
	Less than 1 Year		1-2 Years		2-3 Years		3-4 Years		4-5 Years		Thereafter		Total
Federal funds purchased and repurchase agreements	$	36,686	$	124	$	—	$	—	$	—	$	—	$	36,810
FHLB borrowings	336,502		365,165		11,483		—		—		5,915		719,065
Total obligations	$	373,188	$	365,289	$	11,483	$	—	$	—	$	5,915	$	755,875