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SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER DEBT | 3 Months Ended
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Mar. 31, 2021
Debt Disclosure [Abstract] |
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER DEBT | NOTE 4 - SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER DEBT At March 31, 2021 and December 31, 2020, securities sold under agreements to repurchase totaled $24,007 and $15,631, respectively. The Company has an unsecured $25,000 revolving line of credit, which had a $15,000 outstanding balance at March 31, 2021, bears interest at the greater of (i) the prime rate, which was 3.25% at March 31, 2021, or (ii) the rate floor of 3.50%, with interest payable quarterly, and matures in March 2022. Federal Home Loan Bank (FHLB) advances, as of March 31, 2021, were as follows: Fixed rate advances, with monthly interest payments, principal due in:
Year |  | Current Weighted Average Rate |  |  | Principal Due |
2021 |  |  | 0.16 | % |  | $ | 41,500 |
2022 |  |  | 1.99 | % |  |  | 1,500 |
2023 |  |  | 0.00 | % |  |  | — |
2024 |  |  | 1.76 | % |  |  | 6,000 |
2025 |  |  | 0.00 | % |  |  | — |
|  |  |  |  |  |  | 49,000 |
Fixed rate advances, with monthly principal and interest payments, principal due in:
Year |  | Current Weighted Average Rate |  |  | Principal Due |
2021 |  |  | 1.38 | % |  |  | 96 |
|  |  |  |  |  |  | 96 |
|  |  |  |  |  | $ | 49,096 |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + 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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