Short-term Borrowings

Short-term borrowings consist of customer repurchase agreements, overnight borrowings from the FHLB, federal funds purchased, and a promissory note. The Company has federal funds lines of credit established with one correspondent bank in the amount of $15,000,000 and another correspondent bank in the amount of $10,000,000, and additionally, has access to the Federal Reserve Bank of Richmond's discount window. On August 21, 2019, the Company secured a $3,000,000 line of credit with a regional commercial bank at 0.25% under Prime maturing August 21, 2020. There were no outstanding borrowings on this line at December 31, 2019. The Company paid $4,000 in interest on this line during 2019. Customer repurchase agreements are collateralized by securities of the U.S. Government, its agencies or GSEs. They mature daily. The interest rates are generally fixed but may be changed at the discretion of the Company. The securities underlying these agreements remain under the Company's control. FHLB overnight borrowings contain floating interest rates that may change daily at the discretion of the FHLB. Short-term borrowings consisted solely of the following at December 31, 2019 and 2018 (dollars in thousands):



	December 31, 2019				December 31, 2018
	Amount		Weighted Average Rate		Amount		Weighted Average Rate
Customer repurchase agreements	$	40,475	1.40	%	$	35,243	1.67	%