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LONG-TERM DEBT | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
LONG-TERM DEBT | LONG-TERM DEBT The following table presents components of the Company’s long-term debt at December 31, 2022, and 2021.
| Amount |  | Weighted Average rate
| 2022 |  | 2021 |  | 2022 |  | 2021
Total FHLB amortizing advance requiring monthly principal and interest payments, maturing: |  |  |  |  |  |  |
2025 | $ | 1,455 |  |  | $ | 1,896 |  |  | 4.74 | % |  | 4.74 | %
There were no new long term borrowings in 2022 or 2021. The following table summarizes the future annual principal payments required on these borrowings at December 31, 2022.
2023 | $ | 462 |
2024 | 485 |
2025 | 508 |
2026 | — |
2027 | — |
Thereafter | — |
| $ | 1,455 |
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 $1.0 billion at December 31, 2022. The Bank had additional availability of $909.6 million at the FHLB on December 31, 2022 based on its qualifying collateral, net of short-term borrowings and long-term debt detailed above, deposit letters of credit totaling $1.0 million and non-deposit letters of credit totaling $1.2 million at December 31, 2022. At December 31, 2022 and 2021, the Company had availability under FHLB lines totaling $45.3 million and $150.0 million, respectively. 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, 2022. There were no borrowings under these lines of credit at December 31, 2022 and 2021.

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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 https://asc.fasb.org/topic&trid=2208564 + Details
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