Short-term borrowings:

There were $255 million in short-term Federal Home Loan Bank Advances at September 30, 2018 with a weighted average interest rate of 2.27%. Short-term Federal Home Loan Bank Advances were $215 million at December 31, 2017. The Company had $8.7 million and $74.2 million in securities sold under repurchase agreements for the periods ended September 30, 2018 and December 31, 2017, respectively. In addition, the Company had no Federal funds purchased and has a $350 thousand balance on business lines of credit with one lending institution at September 30, 2018 and December 31, 2017.

The following table provides a disaggregation of the obligation by the class of collateral pledged for short-term financing obtained through the sales of repurchase agreements:

(In Thousands of Dollars)	September 30, 2018		December 31, 2017
Overnight and continuous repurchase agreements
U.S. Treasury and U.S. government sponsored entities	$	574	$	5,051
State and political subdivisions		2,934		21,731
Mortgage-backed securities - residential		5,102		46,133
Collateralized mortgage obligations - residential		534		5,011
Total repurchase agreements	$	9,144	$	77,926

Management believes the risks associated with the agreements are minimal and, in the case of collateral decline, the Company has additional investment securities available to adequately pledge as guarantees for the repurchase agreements.