There were $88 million in short-term Federal Home Loan Bank Advances at June 30, 2019 with a weighted average interest rate of 2.52%. Short-term Federal Home Loan Bank Advances were $240 million at December 31, 2018. The Company had $3.0 million and $4.4 million in securities sold under repurchase agreements for the periods ended June 30, 2019 and December 31, 2018, 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 June 30, 2019 and December 31, 2018.

Securities sold under repurchase agreements are secured by the Bank’s holdings of debt securities issued by U.S. Government sponsored entities and agencies. These pledged securities which are 105% of the repurchase agreement balances, had a carrying amount of $3.1 million and $4.6 million at June 30, 2019 and December 31, 2018.

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)	June 30, 2019		December 31, 2018
Overnight and continuous repurchase agreements
U.S. Treasury and U.S. government sponsored entities	$	167	$	332
State and political subdivisions		717		664
Mortgage-backed securities - residential		1,829		3,094
Collateralized mortgage obligations - residential		249		319
Total repurchase agreements	$	2,962	$	4,409

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.