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Note 10 - Borrowings | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Debt Disclosure [Text Block] | Note 10. Borrowings The following table presents the components of borrowings as of the dates indicated:
|  | December 31, |
|  | 2024 |  |  | 2023 |
(Amounts in thousands) |  | Balance |  |  | Weighted Average Rate |  |  | Balance |  |  | Weighted Average Rate |
Retail repurchase agreements |  | $ | 906 |  |  |  | 0.05 | % |  | $ | 1,119 |  |  |  | 0.06 | %
Repurchase agreements are secured by certain securities that remain under the Company’s control during the terms of the agreements. The counterparties may redeem callable repurchase agreements, which could substantially shorten the borrowings’ lives. The prepayment or early termination of a repurchase agreement may result in substantial penalties based on market conditions. The following schedule presents the contractual maturities of repurchase agreements, by type of collateral pledged, as of December 31, 2024:
|  | Overnight and Continuous |  |  | Up to 30 Days |  |  | 30 - 90 Days |  |  | Greater than 90 Days |  |  | Total |
(Amounts in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal securities |  | $ | 220 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 220 |
Mortgage-backed Agency securities |  |  | 686 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 686 |
Total |  | $ | 906 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 906 |
As of December 31, 2024, unused borrowing capacity with the FHLB totaled $352.32 million, net of FHLB letters of credit of $122.72 million. The Company pledged $475.03 million in qualifying loans to secure the FHLB letters of credit, which provide an attractive alternative to pledging securities for public unit deposits.

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