XML 31 R20.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Securities Sold Under Agreements to Repurchase | 12 Months Ended
--- | ---
Dec. 31, 2024
Securities Sold under Agreements to Repurchase [Abstract] |
Securities Sold Under Agreements to Repurchase | Note 9. Securities Sold Under Agreements to Repurchase Details of the Company’s securities sold under agreements to repurchase as of December 31, 2024 and 2023 were as follows:
|  | December 31, 2024 |  |  | December 31, 2023
(dollars in thousands) |  | Amounts Outstanding |  |  | Weighted-Average Interest Rate |  |  | Weighted-Avg Maturity (in years) |  |  | Amounts Outstanding |  |  | Weighted-Average Interest Rate |  |  | Weighted-Avg Maturity (in years)
Securities Sold Under Agreements to Repurchase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Private Institutions |  | $ | 100,000 |  |  |  | 3.88 | % |  | 3.9 |  |  | $ | 150,000 |  |  |  | 3.80 | % |  | 5.2
Government Entities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 490 |  |  | 1.55 |  |  | 0.9
Total |  | $ | 100,000 |  |  |  | 3.88 | % |  | 3.9 |  |  | $ | 150,490 |  |  |  | 3.79 | % |  | 5.2
As of December 31, 2024, all of the Company's repurchase agreements were at fixed interest rates, with remaining terms ranging from 2027 to 2029. In May 2024, a private institution exercised their right to call on one repurchase agreement with a balance of $50.0 million, resulting in its termination. In November 2024, a repurchase agreement with a government entity matured, leaving an aggregate outstanding balance of $100.0 million to private institutions. Each of our repurchase agreements is accounted for as collateralized financing arrangements (i.e., a secured borrowing) and not as a sale and subsequent repurchases of securities. The following table presents the remaining contractual maturities of the Company’s repurchase agreements as of December 31, 2024 and 2023, disaggregated by the class of collateral pledged.
|  | Remaining Contractual Maturity of Repurchase Agreements |
(dollars in thousands) |  | Up to 90 days |  |  | 91-365 days |  |  | 1-3 Years |  |  | After 3 Years |  |  | Total |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class of Collateral Pledged: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential - U.S. Government-Sponsored Enterprises |  | $ | — |  |  | $ | — |  |  | $ | 50,064 |  |  | $ | 49,936 |  |  | $ | 100,000 |
Total |  | $ | — |  |  | $ | — |  |  | $ | 50,064 |  |  | $ | 49,936 |  |  | $ | 100,000 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class of Collateral Pledged: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Securities Issued by States and Political Subdivisions |  | $ | — |  |  | $ | 490 |  |  | $ | — |  |  | $ | — |  |  | $ | 490 |
Mortgage-Backed Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential - U.S. Government-Sponsored Enterprises |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 150,000 |  |  |  | 150,000 |
Total |  | $ | — |  |  | $ | 490 |  |  | $ | — |  |  | $ | 150,000 |  |  | $ | 150,490 |

X
- Definition The entire disclosure for repurchase agreements (also known as repos), resale agreements (also known as reverse repurchase agreements or reverse repos), securities borrowed transactions, and securities loaned transactions. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481420/860-30-50-10 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 860 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/860/tableOfContent + Details
Name: | us-gaap_RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SecuritiesSoldUnderAgreementsToRepurchaseAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration