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SHORT-TERM BORROWINGS
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
SHORT-TERM BORROWINGS SHORT-TERM BORROWINGS
The Company has short-term borrowing capability from the FHLB and the FRB discount window. The following table summarizes these short-term borrowings at September 30, 2024 and December 31, 2023, and for the nine and twelve months then ended:
September 30, 2024December 31, 2023
Balance at period-end$75,000 $97,500 
Weighted average interest rate during the period5.18 %5.68 %
Average balance during the period$75,000 $87,370 
Average interest rate during the period5.74 %5.46 %
Maximum month-end balance during the period$105,000 $120,984 
At September 30, 2024 and December 31, 2023, the Company had availability under FHLB lines for its short-term borrowings totaling $75.0 million and $52.5 million, respectively.
The Company also enters into borrowing arrangements with certain of its deposit clients by agreements to repurchase ("repurchase agreements") under which the Company pledges investment securities owned and under its control as collateral against the borrowing arrangement, which generally matures within one day from the transaction date. The Company is required to hold U.S. Treasury, U.S. Agency or U.S. GSE securities as underlying securities for repurchase agreements. The following table provides additional details for repurchase agreements, which excludes federal funds purchased, at September 30, 2024 and December 31, 2023.
September 30, 2024December 31, 2023
Balance at period-end$21,932 $9,785 
Weighted average interest rate during the period1.71 %0.76 %
Average balance during the period$16,191 $14,099 
Average interest rate during the period1.22 %0.80 %
Maximum month-end balance during the period$27,446 $17,991 
Fair value of securities underlying the agreements at period-end$17,098 $10,201