SHORT-TERM BORROWINGS

12 Months Ended

Dec. 31, 2022

Short-term borrowings, which HTLF defines as borrowings with an original maturity of one year or less, as of December 31, 2022, and 2021, were as follows, in thousands:


	2022		2021
Retail repurchase agreements	$	95,303	$	122,996

Advances from the FHLB	50,000		—
Advances from the federal discount window	224,000		—
Other short-term borrowings	6,814		8,601
Total	$	376,117	$	131,597

HTLF renewed its revolving credit line agreement with an unaffiliated bank on June 14, 2022, which provides $100.0 million of borrowing capacity. This revolving credit line agreement is included in short-term borrowings, and the primary purpose of this credit line agreement is to provide short-term liquidity to HTLF. HTLF had no advances on this line during 2022, and there was no outstanding balance at both December 31, 2022, and December 31, 2021.

The revolving credit line agreement expires on June 14, 2024, at which time any outstanding balance is due.

All retail repurchase agreements as of December 31, 2022, and 2021, were due within twelve months.

Average and maximum balances and rates on aggregate short-term borrowings outstanding during the years ended December 31, 2022, December 31, 2021 and December 31, 2020, were as follows, in thousands:


	2022			2021			2020
Maximum month-end balance	$	376,117		$	299,457		$	380,360
Average month-end balance	191,306			173,556			157,348
Weighted average interest rate for the year	1.61		%	0.26		%	0.39		%
Weighted average interest rate at year-end	4.07		%	0.19		%	0.18		%

All HTLF's Banks have availability to borrow short-term funds under the Discount Window Program based upon pledged securities with an outstanding balance of $1.49 billion and pledged commercial loans under the Borrower-In Custody of Collateral Program of $60.8 million, which provided total borrowing capacity of $725.6 million, of which $501.6 million was available at December 31, 2022. There were $224.0 million in borrowings outstanding at December 31, 2022 and no outstanding balance at December 31, 2021.