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Short-Term Borrowings

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

SHORT TERM BORROWINGS

SHORT TERM BORROWINGS

Short-term borrowings are for terms under or equal to one year and at December 31, 2023 are comprised of FHLB advances. FHLB advances are for various terms and are secured by a blanket lien on residential mortgages and other real estate secured loans.

The following table presents the composition of short-term borrowings, the weighted average interest rate as of December 31, 2023 and interest expense for the years ended December 31:

			2023																		2022																		2021
(dollars in thousands)			Balance						Weighted Average Interest Rate						Interest Expense						Balance						Weighted Average Interest Rate						Interest Expense						Balance						Weighted Average Interest Rate						Interest Expense
FHLB advances			415,000						5.65		%				27,234						370,000						4.49		%				1,649						—						—		%				12
Total Short-term Borrowings			$	415,000					5.65		%				$	27,234					$	370,000					4.49		%				$	1,649					$	—					—		%				$	12

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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

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