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BORROWING ARRANGEMENTS
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Debt Disclosure BORROWING ARRANGEMENTS
Information related to borrowings is provided in the table below (dollars in thousands):
December 31, 2023December 31, 2022
Other borrowings:  
Balance at end of period$509,820 $221,153 
Average amount outstanding during the period (1)
436,676 77,845 
Maximum amount outstanding during the period (2)
1,030,421 316,563 
Weighted average interest rate during the period (3)
4.9 %2.4 %
Interest rate at end of period (4)
5.0 %4.1 %
FHLB borrowings:  
Balance at end of period$212,648 $153,358 
Average amount outstanding during the period (1)
276,584 135,926 
Maximum amount outstanding during the period (2)
533,242 423,645 
Weighted average interest rate during the period (3)
2.5 %2.4 %
Interest rate at end of period (5)
1.2 %0.7 %
(1)The average amount outstanding during the period was computed by dividing the total daily outstanding principal balances by the number of days in the period.
(2)The maximum amount outstanding at any month-end during the period.
(3)The weighted average interest rate during the period was computed by dividing the actual interest expense by the average amount outstanding during the period. The weighted average interest rate on other borrowings and FHLB borrowings includes the effect of interest rate swaps.
(4)Stated rate.
(5)The interest rate on FHLB borrowings includes the effect of interest rate swaps.

Maturities of the obligations associated with our borrowing arrangements based on scheduled repayments at December 31, 2023 are as follows (in thousands):
Payments Due by Period
 Less than
1 Year		1-2 Years2-3 Years3-4 Years4-5 YearsThereafterTotal
Other borrowings$503,387 $6,433 $— $— $— $— $509,820 
FHLB borrowings210,740 772 484 406 246 — 212,648 
Total obligations$714,127 $7,205 $484 $406 $246 $— $722,468 

Other borrowings may include federal funds purchased, repurchase agreements and borrowings from the Federal Reserve through the FRDW and BTFP. Southside Bank has three unsecured lines of credit for the purchase of overnight federal funds at prevailing rates with Frost Bank, TIB – The Independent Bankers Bank and Comerica Bank for $40.0 million, $15.0 million and $7.5 million, respectively. There were no federal funds purchased at December 31, 2023 or 2022. To provide more liquidity in response to economic conditions in recent years, the Federal Reserve has encouraged broader use of the discount window. At December 31, 2023, the amount of additional funding the Bank could obtain from the FRDW, collateralized by securities, was approximately $213.1 million. There were $300.0 million in borrowings from the FRDW at December 31, 2023, and $188.0 million at December 31, 2022. To provide more stability and to assure banks have the ability to meet the needs of all of their depositors, the Federal Reserve created the BTFP in the first quarter of 2023. At December 31, 2023, the amount of additional funding the Bank could obtain from the BTFP, collateralized by securities, was approximately $8,000. There were $117.7 million in borrowings from the BTFP at December 31, 2023, with a remaining maturity under three months. Southside Bank has a $5.0 million line of credit with Frost Bank to be used to issue letters of credit, and at December 31, 2023, the line had one outstanding letter of credit for $155,000. Southside Bank currently has no outstanding letters of credit from FHLB held as collateral for its public fund deposits.
Southside Bank enters into sales of securities under repurchase agreements. These repurchase agreements totaled $92.1 million at December 31, 2023 and $33.2 million at December 31, 2022, and had maturities of less than two years. Repurchase
agreements are secured by investment and MBS securities and are stated at the amount of cash received in connection with the transaction.
FHLB borrowings represent borrowings with fixed interest rates ranging from 0.57% to 4.80% and with remaining maturities of 22 days to 4.5 years at December 31, 2023.  FHLB borrowings may be collateralized by FHLB stock, nonspecified loans and/or securities. At December 31, 2023, the amount of additional funding Southside Bank could obtain from FHLB, collateralized by securities, FHLB stock and nonspecified loans and securities, was approximately $1.95 billion, net of FHLB stock purchases required.