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Note 8 - Borrowings
 9 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Debt Disclosure [Text Block]

Note 8. Borrowings

 

The following table presents the components of borrowings as of the dates indicated:

 

  

September 30, 2023

  

December 31, 2022

 
      

Weighted

      

Weighted

 

(Amounts in thousands)

 

Balance

  

Average Rate

  

Balance

  

Average Rate

 

Retail repurchase agreements

 $1,029   0.06% $1,874   0.07%

 

Repurchase agreements are secured by certain securities that remain under the Company’s control during the terms of the agreements.

 

As of September 30, 2023, the Company had no long-term borrowings.

 

Unused borrowing capacity with the FHLB totaled $382.39 million, net of FHLB letters of credit of $126.08 million, as of September 30, 2023. As of September 30, 2023, the Company maintains $508.47 million in qualifying loans to secure the FHLB borrowing capacity.