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Note 7 - Securities Sold Under Agreements to Repurchase | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | NOTE 7 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Information regarding securities sold under agreements to repurchase at year end is summarized below:
(Dollars in thousands) |  | 2023 |  |  | 2022 |
Outstanding balance at year end |  | $ | 229,734 |  |  | $ | 194,340 |
Weighted average interest rate at year end |  |  | 3.17 | % |  |  | 0.75 | %
Average daily balance during the year |  | $ | 204,334 |  |  | $ | 200,499 |
Weighted average interest rate during the year |  |  | 1.33 | % |  |  | 0.15 | %
Maximum daily balance during the year |  | $ | 269,324 |  |  | $ | 235,577 |
Securities sold under agreements to repurchase (“repurchase agreements”) generally have original maturities of less than one year. Repurchase agreements are treated as financings, and the obligations to repurchase securities sold are reflected as liabilities on our Consolidated Balance Sheets. Repurchase agreements are secured by securities with an aggregate fair value equal to the aggregate outstanding balance of the repurchase agreements. The securities, which are included in securities available for sale on our Consolidated Balance Sheets, are held in safekeeping by a correspondent bank. Repurchase agreements are offered principally to certain large deposit customers.

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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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