BORROWINGS

Short-term borrowings are for terms under one year and were comprised of securities sold under repurchase agreements, or REPOs, and Federal Home Loan Bank, or FHLB, advances. Our REPOs were with our local retail customers. Securities pledged as collateral under these REPO financing arrangements cannot be sold or repledged by the secured party and are therefore accounted for as a secured borrowing. FHLB advances are for various terms secured by a blanket lien on our residential mortgages and other real estate secured loans.

Long-term borrowings are for original terms greater than one year and were comprised of FHLB advances, a capital lease and junior subordinated debt securities. Long-term FHLB advances have the same collateral requirements as their short-term equivalents. We had total long-term borrowings outstanding of $17.9 million at a fixed rate and $48.7 million at a variable rate at March 31, 2014, excluding our capital lease of $0.2 million.

Information pertaining to borrowings is summarized in the table below as of the dates presented:



	March 31, 2014				December 31, 2013
(dollars in thousands)	Balance		Weighted Average Rate		Balance		Weighted Average Rate
Short-term borrowings
Securities sold under repurchase agreements	$	38,434	0.01	%	$	33,847	0.01	%
Short-term borrowings	100,000		0.31	%	140,000		0.30	%
Total short-term borrowings	138,434		0.22	%	173,847		0.24	%
Long-term borrowings
Other long-term borrowings	21,226		2.99	%	21,810		3.01	%
Junior subordinated debt securities	45,619		2.69	%	45,619		2.70	%
Total long-term borrowings	66,845		2.79	%	67,429		2.80	%
Total Borrowings	$	205,279	1.06	%	$	241,276	0.96	%

We had total borrowings at March 31, 2014 and December 31, 2013 at the FHLB of Pittsburgh of $121.0 million and $161.6 million. This consisted of $100.0 million in short-term borrowings and $21.0 million in long-term borrowings at March 31, 2014. Our maximum borrowing capacity with the FHLB of Pittsburgh was $1.6 billion at March 31, 2014, with a remaining borrowing availability of $1.5 billion.