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Short-term Borrowings | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Short-term Borrowings | Short-term borrowings: The Bank had no short-term advances from the Federal Home Loan Bank ("FHLB") at September 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 a line of credit of $25.0 million at a major domestic bank and the interest rate is below the prime rate. This line and its terms are periodically reviewed by the lending bank and it is generally subject to withdrawal at their discretion. There were no borrowings under this line at September 30, 2023. At December 31, 2022, the Bank had access to lines of credit amounting to $35 million at two major domestic banks that were both below the prime interest rate, however, there were no borrowings under these lines at December 31, 2022. At September 30, 2023 Farmers has one unsecured revolving line of credit for $5.0 million and this line can be renewed annually. The line has an interest rate of prime and a floor of 3.5%. There were no outstanding balance on this line at September 30, 2023. At December 31, 2022, Farmers had two unsecured lines of credit for $6.5 million, with interest rates of prime and floors of 3.5% and 4.5%. There was no outstanding balance on either of these lines 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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