NOTE 9.          FEDERAL FUNDS PURCHASED

At December 31, 2021, the Company had $1.71 billion in federal funds purchased from its correspondent banks that are clients of its correspondent banking unit, compared to $851.5 million at December 31, 2020. Rates paid on these funds were between 0.15% and 0.25% as of December 31, 2021 and 0.15% and 0.25% as of December 31, 2020.

At December 31, 2021, the Company had available lines of credit totaling approximately $986.0 million with various financial institutions for borrowing on a short-term basis, compared to $923.0 million at December 31, 2020. At December 31, 2021, the Company had no outstanding borrowings from these lines.