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Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2021
Borrowings [Abstract] |
Information Related to Short-term Borrowings | Information related to short-term borrowings is summarized as follows as of December 31:
(Dollars in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Federal funds purchased: |  |  |  |  |  |  |  |  |
Balance at year-end |  | $ | - |  |  | $ | - |  |  | $ | 65,000 |
Average during the year |  |  | 17 |  |  |  | 14,727 |  |  |  | 47,137 |
Maximum month end balance |  |  | - |  |  |  | 40,000 |  |  |  | 80,000 |
Weighted average rate during the year |  |  | 0.11 | % |  |  | 2.05 | % |  |  | 3.90 | %
Weighted average rate at year-end |  |  | - |  |  |  | - |  |  |  | 2.84 | %
Securities sold under repurchase agreements: |  |  |  |  |  |  |  |  |  |  |  |
Balance at year-end |  | $ | 97,795 |  |  | $ | 143,386 |  |  | $ | 143,775 |
Average during the year |  |  | 100,519 |  |  |  | 154,383 |  |  |  | 123,337 |
Maximum month end balance |  |  | 135,623 |  |  |  | 176,840 |  |  |  | 146,410 |
Weighted average rate during the year |  |  | 0.13 | % |  |  | 0.17 | % |  |  | 0.33 | %
Weighted average rate at year-end |  |  | 0.11 | % |  |  | 0.20 | % |  |  | 0.40 | %
Other short-term borrowings: |  |  |  |  |  |  |  |  |  |  |  |
Balance at year-end |  | $ | - |  |  | $ | 25,000 |  |  | $ | 446,500 |
Average during the year |  |  | 1,302 |  |  |  | 183,699 |  |  |  | 403,453 |
Maximum month end balance |  |  | - |  |  |  | 366,500 |  |  |  | 576,000 |
Weighted average rate during the year |  |  | 2.02 | % |  |  | 1.55 | % |  |  | 1.85 | %
Weighted average rate at year-end |  |  | - |  |  |  | 1.99 | % |  |  | 1.73 | %
Summary of Long-term Debt | Long-term debt consists of obligations having an original maturity at issuance of more than one year. A majority of the Company’s long-term debt is comprised of FHLB advances collateralized by the FHLB stock owned by the Company, and a blanket lien on its residential real estate mortgage loans. As of December 31, 2021 the Company had no callable long-term debt. A summary is as follows:
(Dollars in thousands) |  | December 31, 2021 |  |  | December 31, 2020 |
Maturity |  | Amount |  |  | Weighted Average Rate |  |  | Amount |  |  | Weighted Average Rate |
2021 |  | $ | - |  |  |  | - |  |  | $ | 25,003 |  |  |  | 2.56 | %
2022 |  |  | 10,598 |  |  |  | 2.53 | % |  |  | 10,598 |  |  |  | 2.53 | %
2031 |  |  | 3,397 |  |  |  | 2.45 | % |  |  | 3,496 |  |  |  | 2.45 | %
Total |  | $ | 13,995 |  |  |  |  |  |  | $ | 39,097 |  |  |  |  |
Subordinated Debt | The following table summarizes the Company’s subordinated debt:
(Dollars in thousands) |  | December 31, 2021 |  |  | December 31, 2020 |
Subordinated notes issued June 2020 – fixed interest rate of 5.00% through June 2025 and a variable interest rate equivalent to three-month SOFR plus 4.85% thereafter, maturing July 1, 2030 |  | $ | 100,000 |  |  | $ | 100,000 |
Unamortized debt issuance costs |  |  | (1,510 | ) |  |  | (1,948 | )
Total subordinated debt, net |  | $ | 98,490 |  |  | $ | 98,052 |
Schedule of Debt of VIE where Entity is not Primary Beneficiary | As of December 31, 2021, the Trusts had the following trust preferred securities outstanding and held the following junior subordinated debentures of the Company (dollars in thousands):
Description | Issuance Date |  | Trust Preferred Securities Outstanding |  | Interest Rate |  | Trust Preferred Debt Owed To Trust |  | Final Maturity Date
CNBF Capital Trust I | August 1999 |  | $ | 18,000 |  | 3-month LIBOR plus 2.75% |  | $ | 18,720 |  | August 2029
NBT Statutory Trust I | November 2005 |  |  | 5,000 |  | 3-month LIBOR plus 1.40% |  |  | 5,155 |  | December 2035
NBT Statutory Trust II | February 2006 |  |  | 50,000 |  | 3-month LIBOR plus 1.40% |  |  | 51,547 |  | March 2036
Alliance Financial Capital Trust I | December 2003 |  |  | 10,000 |  | 3-month LIBOR plus 2.85% |  |  | 10,310 |  | January 2034
Alliance Financial Capital Trust II | September 2006 |  |  | 15,000 |  | 3-month LIBOR plus 1.65% |  |  | 15,464 |  | September 2036

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