CASH 2017 Annual Report

127 Securities sold under agreements to repurchase totaled approximately $2.5 million and $3.0 million at September 30, 2017, and 2016, respectively. An analysis of securities sold under agreements to repurchase at September 30, 2017 and 2016 follows: September 30, 2017 2016 (Dollars in Thousands) Highest month-end balance $ 3,782 $ 3,468 Average balance 2,225 2,179 Weighted average interest rate for the year 0.98% 0.60% Weighted average interest rate at year end 1.59% 0.61% The Company pledged securities with fair values of approximately $9.3 million at September 30, 2017, as collateral for securities sold under agreements to repurchase. There were $9.2 million of securities pledged as collateral for securities sold under agreements to repurchase at September 30, 2016. Long Term Debt September 30, 2017 2016 (Dollars in Thousands) Long-term FHLB advances $ — $ 7,000 Trust preferred securities 10,310 10,310 Subordinated debentures (net of issuance costs) 73,347 73,211 Long-term capital lease 1,876 1,939 Total 85,533 92,460 At September 30, 2017, the Company had no long-term advances from the FHLB. The Company had $7.0 million in long-term advances from the FHLB at September 30, 2016 which carried a weighted average rate of 6.98%. The $7.0 million of long-term advances were paid off by the Company during the fourth quarter of 2017. At September 30, 2017, the scheduled maturities of the Company's long-term debt were as follows for the years ending: September 30, (Dollars in Thousands) Trust preferred securities Subordinated debentures Long-term capital lease Total 2018 $ — $ — $ — $ — 2019 — — 65 65 2020 — — 72 72 2021 — — 77 77 2022 — — 82 82 Thereafter 10,310 73,347 1,580 85,237 Total long-term debt $ 10,310 $ 73,347 $ 1,876 $ 85,533 Trust preferred securities are due to First Midwest Financial Capital Trust I, a 100%-owned nonconsolidated subsidiary of the Company. The securities were issued in 2001 in conjunction with the Trust’s issuance of 10,000 shares of Trust Preferred Securities. The securities bear the same interest rate and terms as the trust preferred securities. The securities are included on the consolidated statements of financial condition as liabilities.