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Short-Term Borrowings | 12 Months Ended
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Dec. 31, 2023
Short-Term Debt [Abstract] |
Short-Term Borrowings | (9) SHORT-TERM BORROWINGS The following is a summary of short-term borrowings:
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | (Dollars in thousands) |
Federal funds purchased |  | $ | 2,525 |  |  | $ | 300 |
Repurchase agreements |  |  | 826 |  |  |  | — |
Total short-term borrowings |  | $ | 3,351 |  |  | $ | 300 |
Weighted average interest rate |  |  | 4.84 | % |  |  | 1.39 | %
End of period interest rate |  |  | 4.06 | % |  |  | 4.30 | %
Federal funds purchased represent borrowings of overnight funds from other financial institutions. The Company enters into sales of securities to certain of its customers with simultaneous agreements to repurchase. These agreements represent an overnight borrowing of funds.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
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