CASH 2017 Annual Report

29 The following table sets forth certain information as to the Company’s FHLB advances, retail and reverse repurchase agreements, trust preferred securities, subordinated debentures, capital leases, and overnight fed funds purchased at the dates indicated. September 30, 2017 2016 2015 (Dollars in Thousands) FHLB advances $ 415,000 $ 107,000 $ 7,000 Repurchase agreements 2,472 3,039 4,007 Trust preferred securities 10,310 10,310 10,310 Subordinated debentures 73,347 73,211 — Capital leases 1,938 2,018 2,143 Overnight fed funds purchased 987,000 992,000 540,000 Total borrowings $ 1,490,067 $ 1,187,578 $ 563,460 Weighted average interest rate of FHLB advances 1.27% 0.89% 6.98% Weighted average interest rate of repurchase agreements 0.98% 0.60% 0.52% Weighted average interest rate of trust preferred securities 5.26% 4.99% 4.28% Weighted average interest rate of subordinated debentures 5.75% 5.75% —% Weighted average interest rate of overnight fed funds purchased 1.33% 0.45% 0.30% Subsidiary Activities The subsidiaries of the Company are the Bank and First Midwest Financial Capital Trust I. Payments Overview The Company, through the MPS division of the Bank, is focused on innovation in the fintech and payments industries. MPS offers a complement of prepaid cards, consumer credit products and other payment industry- related products and services that are marketed to consumers through financial institutions and other commercial entities on a nationwide basis. The products and services offered by MPS are generally designed to facilitate the processing and settlement of authorized electronic transactions involving the movement of funds. MPS offers specific product solutions in the following areas: (i) prepaid cards, (ii) consumer credit products, (iii) ATM sponsorship, (iv) tax refund transfers and (v) interest-free tax refund loans. MPS’ products and services generally target banks, card processors, third parties that market and distribute the cards, resellers and independent tax preparers (EROs). Each line of MPS’ business is discussed generally below. With respect to the lines of business, there is a significant amount of cross-utilization of personnel and resources (e.g., MPS may develop products for both prepaid and consumer credit needs pursuant to a client's request).