Other Borrowings

12 Months Ended

Dec. 31, 2015

Note 11. Other Borrowings

The Bank's short-term borrowings are comprised of securities sold under agreements to repurchase (Repo) and a line-of-credit with the Federal Home Loan Bank of Pittsburgh (Open Repo Plus). Securities sold under agreements to repurchase are overnight borrowings between the Bank and its commercial and municipal depositors. These accounts reprice weekly. Open Repo Plus is a revolving term commitment used on an overnight basis. The term of this commitment may not exceed 364 days and it reprices daily at market rates. These borrowings are described below:




	December 31
	2015				2014
	Repurchase		FHLB		Repurchase		FHLB
(Dollars in thousands)	Agreements		Open Repo		Agreements		Open Repo
Ending balance	$	-	$	-	$	9,079	$	-
Weighted average rate at year end		-		-		0.15%		-
Range of interest rates paid at year end		-		-		0.15%		-
Maximum month-end balance during the year	$	-	$	3,500	$	17,755	$	-
Average balance during the year	$	25	$	923	$	8,539	$	-
Weighted average interest rate during the year		0.15%		0.38%		0.15%		-

The Corporation’s maximum borrowing capacity with the FHLB at December 31, 2015 was $252 million, which includes $35 million available on the Open Repo line of credit. The total amount available to borrow at year-end was approximately $252 million. In addition, the Bank has $6 million in an unsecured line of credit at a correspondent bank and approximately $24 million available through the Federal Reserve Discount Window.

The Bank closed its Repo product on January 2, 2015 and the remaining balances were transferred to interest-bearing checking accounts.