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SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER DEBT | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER DEBT | NOTE 4 - SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER DEBT Securities sold under agreements to repurchase were $20,532 and $7,221 as of June 30, 2023 and December 31, 2022, respectively, and are secured by mortgage-backed securities and collateralized mortgage obligations. The Company has an unsecured $25,000 revolving line of credit, which had a $12,000 outstanding balance at June 30, 2023 and no outstanding balance at December 31, 2022, bears interest at the greater of (i) the prime rate, which was 8.25% at June 30, 2023, or (ii) the rate floor of 3.50%, with interest payable quarterly, and matures in March 2024. Federal Home Loan Bank (FHLB) advances bear interest based on a fixed or variable rate, payable monthly, with all principal due at maturity. The following table presents the scheduled maturities of fixed and variable rate FHLB advances and their weighted average rates, as of June 30, 2023:
Year |  | Current Weighted Average Rate |  |  | Principal Due |
Fixed rate advances |  |  |  |  |  |
2023 |  |  | 5.13 | % |  | $ | 185,000 |
2024 |  |  | 4.38 | % |  |  | 10,000 |
Total fixed rate FHLB advances |  |  |  |  | $ | 195,000 |
Total variable rate FHLB advances |  |  |  |  |  | — |
Total FHLB advances |  |  |  |  | $ | 195,000 |

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- Definition The entire disclosure for repurchase agreements (also known as repos), resale agreements (also known as reverse repurchase agreements or reverse repos), securities borrowed transactions, and securities loaned transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 860 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//860/tableOfContent + Details
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