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Short-term Borrowings | 12 Months Ended
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Dec. 31, 2023
Short-Term Debt [Abstract] |
Short-term Borrowings | Short-term Borrowings Short-term borrowings at December 31 were as follows:
| 2023 |  | 2022 |  | 2021
| Ending Balance |  | Average Balance |  | Average Rate |  | Ending Balance |  | Average Balance |  | Average Rate |  | Ending Balance |  | Average Balance |  | Average Rate
| (dollars in thousands)
Federal funds purchased | $ | — |  |  | $ | 712 |  |  | 5.62 | % |  | $ | — |  |  | $ | 1,553 |  |  | 3.93 | % |  | $ | — |  |  | $ | — |  |  | — | %
Borrowings from FHLB | 563,000 |  |  | 379,712 |  |  | 5.56 |  |  | 285,000 |  |  | 41,529 |  |  | 4.24 |  |  | — |  |  | — |  |  | — |
Securities sold under agreements to repurchase | 34,835 |  |  | 59,132 |  |  | 1.01 |  |  | 87,694 |  |  | 101,752 |  |  | 0.18 |  |  | 138,315 |  |  | 119,801 |  |  | 0.08 |
Total | $ | 597,835 |  |  | $ | 439,556 |  |  | 4.95 |  |  | $ | 372,694 |  |  | $ | 144,834 |  |  | 1.38 |  |  | $ | 138,315 |  |  | $ | 119,801 |  |  | 0.08 |
Maximum total at any month-end | $ | 597,835 |  |  |  |  |  |  | $ | 372,694 |  |  |  |  |  |  | $ | 138,315 |  |  |  |  |
Weighted average rate at year-end |  |  |  |  | 5.37 | % |  |  |  |  |  | 3.56 | % |  |  |  |  |  | 0.06 | %
Interest expense on short-term borrowings for the years ended December 31 is detailed below:
| 2023 |  | 2022 |  | 2021
| (dollars in thousands)
Federal funds purchased | $ | 40 |  |  | $ | 61 |  |  | $ | — |
Borrowings from FHLB | 21,108 |  |  | 1,759 |  |  | — |
Securities sold under agreements to repurchase | 599 |  |  | 179 |  |  | 99 |
Total interest on short-term borrowings | $ | 21,747 |  |  | $ | 1,999 |  |  | $ | 99 |

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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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