Short-term borrowings are for terms under one year and were comprised of retail repurchase agreements, or REPOs, and FHLB advances. FHLB advances are for various terms and are secured by a blanket lien on residential mortgages and other real estate secured loans. All REPOs are overnight short-term investments and are not insured by the Federal Deposit Insurance Corporation, or FDIC. 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. Mortgage backed securities with a total carrying value of $50.5 million at June 30, 2015 and $35.6 million at December 31, 2014 were pledged as collateral for these secured transactions. The pledged securities are held in safekeeping at the Federal Reserve. Due to the overnight short-term nature of REPOs, potential risk due to a decline in the value of the pledged collateral is low. Collateral pledging requirements with REPOs are monitored daily.

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 are secured by the same loans as short-term borrowings. We had total long-term borrowings outstanding of $15.0 million at a fixed rate and $148.8 million at a variable rate at June 30, 2015, excluding our capital lease of $0.2 million. On March 5, 2015, we paid off $8.5 million and on June 18, 2015, we paid off the remaining $5.0 million of the $13.5 million junior subordinated debt assumed in the Merger.

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



	June 30, 2015				December 31, 2014
(dollars in thousands)	Balance		Weighted Average Rate		Balance		Weighted Average Rate
Short-term borrowings
Securities sold under repurchase agreements	$	46,235	0.01	%	$	30,605	0.01	%
Short-term borrowings	230,975		0.33	%	290,000		0.31	%
Total short-term borrowings	277,210		0.28	%	320,605		0.27	%
Long-term borrowings
Other long-term borrowings	118,228		0.76	%	19,442		3.00	%
Junior subordinated debt securities	45,619		2.74	%	45,619		2.70	%
Total long-term borrowings	163,847		1.31	%	65,061		2.79	%
Total Borrowings	$	441,057	0.66	%	$	385,666	0.70	%

We had total borrowings at June 30, 2015 and December 31, 2014 at the FHLB of Pittsburgh of $349.0 million and $309.3 million. The $349.0 million at June 30, 2015 consisted of $231.0 million in short-term borrowings and $118.0 million in long-term borrowings. Our maximum borrowing capacity with the FHLB of Pittsburgh was $1.9 billion at June 30, 2015. Our remaining borrowing availability is $1.4 billion. We utilized $0.5 billion of our borrowing capacity at June 30, 2015 consisting of $349.0 million for borrowings and $168.5 million for letters of credit to collateralize public funds.