Short-Term Borrowings and Long-Term FHLB Advances (Tables)

6 Months Ended

Jun. 30, 2018

Long-term Federal Home Loan Bank Advances [Abstract]

A summary of short-term borrowings is as follows:



(dollars in thousands)	June 30, 2018		December 31, 2017
Repurchase agreements* – commercial customers	$	17,159	$	25,865
Short-term FHLB advances	209,900		212,000
Total short-term borrowings	$	227,059	$	237,865

* Overnight repurchase agreements with no expiration date

Schedule of Additional Information on Short Term Borrowings

The following table sets forth information concerning short-term borrowings:



	Three Months Ended June 30,						Six Months Ended June 30,
(dollars in thousands)	2018			2017			2018			2017
Balance at period-end	$	227,059		$	130,295		$	227,059		$	130,295
Maximum amount outstanding at any month end	$	279,525		$	130,295		$	279,525		$	130,295
Average balance outstanding during the period	$	218,566		$	98,869		$	198,079		$	73,378

Weighted-average interest rate:
As of the period-end	1.89		%	1.11		%	1.89		%	1.11		%
Paid during the period	1.92		%	0.96		%	1.72		%	0.72		%

Schedule of Maturities of Long-term Debt

The following table presents the remaining periods until maturity of long-term FHLB advances:



(dollars in thousands)	June 30, 2018		December 31, 2017
Within one year	$	39,867	$	83,766
Over one year through five years	47,941		55,374
Total	$	87,808	$	139,140

Schedule of Federal Home Loan Bank Advances and Other Borrowings Maturities

The following table presents rate and maturity information on FHLB advances and other borrowings:



	Maturity Range⁽¹⁾		Weighted Average Rate⁽¹⁾		Coupon Rate⁽¹⁾				Balance at
Description	From	To	Weighted Average Rate⁽¹⁾		From		To		June 30, 2018		December 31, 2017
Bullet maturity – fixed rate	7/30/2018	8/24/2021	1.70	%	1.31	%	2.13	%	$	77,808	$	118,131
Convertible-fixed⁽²⁾	8/20/2018	8/20/2018	2.58	%	2.58	%	2.58	%	10,000		21,009
Total									$	87,808	$	139,140

(1)Maturity range, weighted average rate and coupon rate range refers to June 30, 2018 balances.

(2) FHLB advances whereby the FHLB has the option, at predetermined times, to convert the fixed interest rate to an adjustable interest rate indexed to the London Interbank Offered Rate (“LIBOR”). The Corporation has the option to prepay these advances, without penalty, if the FHLB elects to convert the interest rate to an adjustable rate. As of June 30, 2018, substantially all FHLB advances with this convertible feature are subject to conversion in fiscal 2018. These advances are included in the maturity ranges in which they mature, rather than the period in which they are subject to conversion.