Short-term Borrowings	12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]
Short-term Borrowings	NOTE 12 – SHORT-TERM BORROWINGS The Bank had short-term advances from the Federal Home Loan Bank ("FHLB") of $70.0 million at December 31, 2023 and $95.0 million at December 31, 2022. The interest rate on these borrowings was 5.41% at December 31, 2023 and 4.37% at December 31, 2022. Both of these short-term borrowings were borrowed using the FHLB's overnight repurchase advance program, as this product allows the most flexibility to meet the Bank's varying liquidity needs. These FHLB advances are secured by pledged assets which are described in the following Long-Term Borrowings footnote. The Bank also had $285.0 million in short-term borrowings at December 31, 2023, which mature in December 2024. The interest rate on this borrowing is fixed at 4.83%. The borrowings are secured by securities with a par value of $298.1 million. The Bank did not have any of these borrowings at December 31, 2022. The Bank has access to a line of credit for $25.0 million at a major domestic bank that is below prime rate. The line and terms are periodically reviewed by the lending bank and is generally subject to withdrawal at their discretion. There were no borrowings under this line at December 31, 2023 and 2022. Farmers has one unsecured revolving line of credit for $5.0 million. This line can be renewed annually and has an interest rate of prime with a floor of 3.5%. There was no outstanding balance on this line at both December 31, 2023 and 2022.

Short-term Borrowings

12 Months Ended

Dec. 31, 2023

NOTE 12 – SHORT-TERM BORROWINGS

The Bank had short-term advances from the Federal Home Loan Bank ("FHLB") of $70.0 million at December 31, 2023 and $95.0 million at December 31, 2022. The interest rate on these borrowings was 5.41% at December 31, 2023 and 4.37% at December 31, 2022. Both of these short-term borrowings were borrowed using the FHLB's overnight repurchase advance program, as this product allows the most flexibility to meet the Bank's varying liquidity needs. These FHLB advances are secured by pledged assets which are described in the following Long-Term Borrowings footnote.

The Bank also had $285.0 million in short-term borrowings at December 31, 2023, which mature in December 2024. The interest rate on this borrowing is fixed at 4.83%. The borrowings are secured by securities with a par value of $298.1 million. The Bank did not have any of these borrowings at December 31, 2022.

The Bank has access to a line of credit for $25.0 million at a major domestic bank that is below prime rate. The line and terms are periodically reviewed by the lending bank and is generally subject to withdrawal at their discretion. There were no borrowings under this line at December 31, 2023 and 2022.

Farmers has one unsecured revolving line of credit for $5.0 million. This line can be renewed annually and has an interest rate of prime with a floor of 3.5%. There was no outstanding balance on this line at both December 31, 2023 and 2022.