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Repurchase Agreements | 12 Months Ended
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Dec. 31, 2023
Disclosure of Repurchase Agreements [Abstract] |
Repurchase Agreements | Repurchase Agreements Securities sold under agreements to repurchase consist of obligations of the Bank to other parties. The obligations are secured by federal agency collateralized mortgage obligations, federal agency mortgage–backed pools and private labeled mortgage–backed pools and such collateral is held in safekeeping by third parties. The maximum amount of outstanding agreements at any month end during 2023 and 2022 totaled $143.5 million and $148.7 million and the daily average of such agreements totaled $137.2 million and $141.0 million. The agreements at December 31, 2023 and 2022 are overnight agreements. The following table shows repurchase agreements accounted for as secured borrowings and the related securities, at fair value, pledged for repurchase agreements:
| December 31, 2023
| Remaining Contractual Maturity of the Agreements
| Overnight and Continuous |  | Up to 30 Days |  | 30–90 Days |  | Greater Than 90 Days |  | Total
Repurchase Agreements and repurchase–to–maturity transactions |  |  |  |  |  |  |  |  |
Federal agency collateralized mortgage obligations | $ | 2,245 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,245 |
Federal agency mortgage–backed pools | 126,349 |  |  | — |  |  | — |  |  | — |  |  | 126,349 |
Private labeled mortgage–backed pools | 7,436 |  |  | — |  |  | — |  |  | — |  |  | 7,436 |
Total borrowings | $ | 136,030 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 136,030 |
| December 31, 2022
| Remaining Contractual Maturity of the Agreements
| Overnight and Continuous |  | Up to 30 Days |  | 30–90 Days |  | Greater Than 90 Days |  | Total
Repurchase Agreements and repurchase–to–maturity transactions |  |  |  |  |  |  |  |  |
Federal agency collateralized mortgage obligations | $ | 12,632 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 12,632 |
Federal agency mortgage–backed pools | 116,040 |  |  | — |  |  | — |  |  | — |  |  | 116,040 |
Private labeled mortgage–backed pools | 9,199 |  |  | — |  |  | — |  |  | — |  |  | 9,199 |
Total borrowings | $ | 137,871 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 137,871 |
The prior year Repurchase Agreement note was revised to conform with current year financial statements. As a result, the securities pledged as collateral are presented by repurchase agreement rather than in total. Securities sold under agreements to repurchase are secured by securities with a carrying amount of $145.2 million and $160.5 million at December 31, 2023 and December 31, 2022, respectively.

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