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LONG-TERM DEBT | 12 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
LONG-TERM DEBT | LONG-TERM DEBT The following table presents components of the Company’s long-term debt at December 31, 2020, and 2019.
| Amount |  | Weighted Average rate
| 2020 |  | 2019 |  | 2020 |  | 2019
FHLB fixed rate advances maturing: |  |  |  |  |  |  |
2021 | $ | — |  |  | $ | 40,350 |  |  | — | % |  | 1.76 | %
2023 | — |  |  | 20,000 |  |  | — | % |  | 3.06 | %
| — |  |  | 60,350 |  |  | — | % |  | 2.19 | %
FHLB amortizing advance requiring monthly principal and interest payments, maturing: |  |  |  |  |  |  |
2025 | 2,316 |  |  | 2,717 |  |  | 4.74 | % |  | 4.74 | %
Total FHLB Advances | $ | 2,316 |  |  | $ | 63,067 |  |  | 4.74 | % |  | 2.30 | %
(1) $20,000,000 of borrowings was prepaid and $40,350,000 of borrowings matured during the year ended December 31, 2020. Except for amortizing advances, interest only is paid on a quarterly basis. The following table summarizes the future annual principal payments required on these borrowings at December 31, 2020.
2021 | $ | 421 |
2022 | 441 |
2023 | 462 |
2024 | 484 |
2025 | 508 |
Thereafter | — |
| $ | 2,316 |
The Bank is a member of the FHLB of Pittsburgh and has access to the FHLB program of overnight and term advances. Under terms of a blanket collateral agreement for advances, lines and letters of credit from the FHLB, collateral for all outstanding advances, lines and letters of credit consisted of 1-4 family mortgage loans and other real estate secured loans totaling $830.3 million at December 31, 2020. The Bank had additional availability of $678.9 million at the FHLB on December 31, 2020 based on its qualifying collateral, net of short-term borrowings and long-term debt detailed above, deposit letters of credit totaling $93.0 million and non-deposit letters of credit totaling $354 thousand at December 31, 2020. The Bank has available unsecured lines of credit, with interest based on the daily Federal Funds rate, with two correspondent banks totaling $30.0 million, at December 31, 2020. There were no borrowings under these lines of credit at December 31, 2020 and 2019.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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