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Note 12 - Securities Sold Under Agreements to Repurchase | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | (12) Securities Sold Under Agreements to Repurchase SSUAR represent a funding source of Bancorp and are used by commercial customers in conjunction with collateralized corporate cash management accounts. Such repurchase agreements are considered financing agreements and mature within one business day from the transaction date. At December 31, 2023, all of these financing arrangements had overnight maturities and were secured by government sponsored enterprise obligations and government agency mortgage-backed securities which were owned and controlled by Bancorp. Information regarding SSUAR follows:
December 31, (dollars in thousands) |  | 2023 |  |  | 2022 |
Outstanding balance at end of period |  | $ | 152,991 |  |  | $ | 133,342 |
Weighted average interest rate at end of period |  |  | 2.23 | % |  |  | 1.64 | %
Years Ended December 31, (dollars in thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
Average outstanding balance during the period |  | $ | 123,111 |  |  | $ | 122,154 |  |  | $ | 62,534 |
Average interest rate during the period |  |  | 1.70 | % |  |  | 0.46 | % |  |  | 0.04 | %
Maximum outstanding at any month end during the period |  | $ | 152,991 |  |  | $ | 161,512 |  |  | $ | 81,964 |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Topic 860 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//860/tableOfContent + Details
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