Borrowed Funds

6 Months Ended

Jun. 30, 2020

Borrowed Funds [Abstract]

Borrowed Funds

Note 10 – Borrowed Funds

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

(Dollars in thousands)	Six Months ‎Ended ‎June 30, 2020		Year Ended ‎December 31, 2019
Securities sold under agreements to repurchase:
Outstanding at end of period	$	36,001	$	48,728
Weighted average interest rate at end of period		0.27%		0.23%
Maximum amount outstanding as of any month end	$	45,604	$	50,345
Average amount outstanding	$	42,973	$	39,778
Approximate weighted average rate during the period		0.23%		0.28%

At June 30, 2020, the repurchase agreements were secured by $61.4 million in investment securities issued by government related agencies. A minimum of 102% of fair value is pledged against account balances.

At June 30, 2020, the long-term advances from the Federal Home Loan Bank of Atlanta (“FLHB”) were secured by $228.1 million in loans.