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Securities Sold Under Agreements to Repurchase | 12 Months Ended
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Dec. 31, 2023
Carrying Value of Securities Sold under Repurchase Agreements and Deposits Received for Securities Loaned [Abstract] |
Securities Sold Under Agreements to Repurchase | Securities Sold Under Agreements to Repurchase Information concerning securities sold under agreements to repurchase is as follows as of and for years ended December 31,:
| 2023 |  | 2022
Amount outstanding at period-end | $ | 24,693 |  |  | $ | 36,721 |
Average daily balance during the period | $ | 28,316 |  |  | $ | 54,335 |
Average interest rate during the period | 0.84 | % |  | 0.27 | %
Maximum month-end balance during the period | $ | 40,432 |  |  | $ | 70,838 |
Weighted average interest rate at period-end | 0.91 | % |  | 0.42 | %
At December 31, 2023 and 2022, such agreements were secured by investment and mortgage-related securities with an approximate carrying amount of $30,810 and $48,931, respectively. Pledged securities are maintained by safekeeping agents at the direction of the Bank. Our agreements to repurchase generally mature daily, and are considered to be in an overnight and continuous position.

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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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