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Short-term Borrowings | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Short-term Borrowings | Short-term borrowings: The Bank had short-term advances from the Federal Home Loan Bank ("FHLB") at June 30, 2023 of $300.0 million. The interest rate on these borrowings was 5.17% at June 30, 2023. The Bank had $95.0 million of short-term advances from the FHLB at December 31, 2022, and the interest rate on these borrowings was 4.38%. The Bank has access to lines of credit amounting to $35.0 million at two major domestic banks that are below prime rate. The lines and terms are periodically reviewed by the lending banks and are generally subject to withdrawal at their discretion. There were no borrowings under these lines at June 30, 2023 or at December 31, 2022. Farmers has two unsecured revolving lines of credit for $6.5 million. These lines can be renewed annually. The lines have interest rates of prime with floors of 3.5% and 4.5%. There were no outstanding balances on either of these two lines at June 30, 2023 or at December 31, 2022.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
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