NOTE 9.      FEDERAL FUNDS PURCHASED

At December 31, 2020, the Company had $851.5 million in federal funds purchased from its correspondent banks that are clients of its correspondent banking unit, compared to $385.7 million at December 31, 2019. Rates paid on these funds were between 0.15% and 0.25% as of December 31, 2020 and 1.60% and 1.67% as of December 31, 2019.

At December 31, 2020, the Company had available lines of credit totaling approximately $923.0 million with various financial institutions for borrowing on a short-term basis, compared to $767.0 million at December 31, 2019. At December 31, 2020, the Company had no outstanding borrowings from these lines.