Note 5. Borrowings

Short-Term Borrowings

The Company classifies all borrowings that will mature within a year from the date on which the Company enters into them as short-term borrowings. Short-term borrowings sources consist of federal funds purchased, overnight repurchase agreements (which are secured transactions with customers that generally mature within one to four days), and advances from the FHLB.

The Company maintains federal funds lines with several correspondent banks to address short-term borrowing needs. At September 30, 2017 and December 31, 2016 the remaining credit available from these lines totaled $55.0 million. The Company has a collateral dependent line of credit with the FHLB with remaining credit availability of $239.0 million and $270.0 as of September 30, 2017 and December 31, 2016, respectively.

The following table presents total short-term borrowings as of the dates indicated:

	September 30, 2017			December 31, 2016
	(in thousands)
Federal funds purchased	$	2,000		$	-
Overnight repurchase agreements		21,885			18,704
FHLB advances		35,000			-
Total short-term borrowings	$	58,885		$	18,704

Maximum month-end outstanding balance	$	76,319		$	68,864
Average outstanding balance during the period	$	49,131		$	39,364
Average interest rate (year-to-date)		0.66	%		0.59	%
Average interest rate at end of period		0.86	%		0.10	%

Long-Term Borrowings

The Company had one fixed rate hybrid FHLB advance for $10.0 million classified as a long-term borrowing at September 30, 2017. The advance is scheduled to mature on February 28, 2019. There were no long-term borrowings at December 31, 2016.