Short-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Short-term borrowings

Short-term borrowings as of December 31 are summarized as follows: 

	2020		2019
Securities sold under agreements to repurchase	$	10,947	$	9,091
Federal funds purchased	10,393		—
Federal Home Loan Bank short-term advances	—		480,000
Total short-term borrowings	$	21,340	$	489,091

Average balances and cost of funds of short-term borrowings

The average balances and cost of funds of short-term borrowings for the years ending December 31 are summarized as follows:

	Average Balances						Cost of Funds
	2020		2019		2018		2020		2019		2018
Federal Home Loan Bank short-term advances	$	345,601	$	114,965	$	147,749	1.09	%	2.59	%	2.21	%
Federal funds purchased	363		—		—		—		—		—
Securities sold under agreements to repurchase	10,889		8,479		7,986		0.30		0.15		0.17
Total short-term borrowings	$	356,853	$	123,444	$	155,735	1.07	%	2.43	%	2.10	%