Note 10 – Borrowed Funds

The following is a summary of short-term borrowings with original maturities of less than one year:



(Dollars in thousands)	Three Months Ended March 31, 2020		Year Ended December 31, 2019
Securities sold under agreements to repurchase:
Outstanding at end of period	$	39,418	$	48,728
Weighted average interest rate at end of period		0.28%		0.23%
Maximum amount outstanding as of any month end	$	45,604	$	50,345
Average amount outstanding	$	45,275	$	39,778
Approximate weighted average rate during the period		0.25%		0.28%

At March 31, 2020, the repurchase agreements were secured by $50.7 million in investment securities issued by government related agencies. A minimum of 102% of fair value is pledged against account balances.

At March 31, 2020, the long-term FHLB advances were secured by $228.2 million in loans.