NOTE 9 Short‑Term Borrowings

There were no short‑term borrowings outstanding as of September 30, 2019. Short-term borrowing as of December 31, 2018, were $93.5 million and consisted of Fed funds purchased.

The following table presents information related to short-term borrowings for the three and nine months ending September 30, 2019 and September 30, 2018:


	Three months ended
	September 30,
(dollars in thousands)	2019			2018
Fed funds purchased
Balance as of end of period	$	—		$	73,930
Average daily balance		61,386			103,171
Maximum month-end balance		124,250			94,410
Weighted-average rate
During period		2.40	%		2.21	%
End of period		2.30	%		2.30	%
FHLB Short-term advances
Balance as of end of period	$	—		$	—
Average daily balance		25,815			—
Maximum month-end balance		—			—
Weighted-average rate
During period		2.58	%		—	%
End of period		—	%		—	%


	Nine months ended
	September 30,
(dollars in thousands)	2019			2018
Fed funds purchased
Balance as of end of period	$	—		$	73,930
Average daily balance		82,504			87,391
Maximum month-end balance		139,605			112,260
Weighted-average rate
During period		2.54	%		0.36	%
End of period		2.30	%		2.30	%
FHLB Short-term advances
Balance as of end of period	$	—		$	—
Average daily balance		12,985			110
Maximum month-end balance		135,000			—
Weighted-average rate
During period		2.44	%		2.43	%
End of period		—	%		—	%