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Note 9 - Short-Term Borrowings

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Short-Term Borrowings

Note 9. Short-Term Borrowings

Short-term borrowings as of December 31, 2024 and 2023 are summarized as follows:

​

​	​	​	​	​	​	​
​		2024			2023
​	​	(dollars in thousands)
​	​	​	​	​	​	​
Federal funds purchased	​	$	1,800	​	$	1,500
​	​	​	​	​	​	​

​

Information concerning federal funds purchased is summarized as follows for the years ended December 31, 2024 and 2023:

​

​	​	​	​	​	​	​	​
​		2024			2023
​	​	(dollars in thousands)
​	​	​	​	​	​	​	​
Average daily balance	​	$	1,850	​	$	2,781	​
Average daily interest rate	​		5.03	%		5.09	%
Maximum month-end balance	​	$	4,100	​	$	2,230	​
Weighted average rate as of December 31	​		4.20	%		5.20	%

​

Investment securities with a carrying value of $9.2 million and $10.1 million were pledged on short-term borrowings as of December 31, 2024 and 2023, respectively.

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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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