XML 28 R18.htm IDEA: XBRL DOCUMENT
v3.21.2

Borrowings | 6 Months Ended
--- | ---
Jun. 30, 2021
Borrowings |
Borrowings | 11. Borrowings ​ Short-term borrowings consists of FHLB advances representing overnight borrowings or with stated original terms of less than twelve months and other borrowings related to collateral held from derivative counterparties. At June 30, 2021 there were no short-term borrowings outstanding, as excess liquidity was used to payoff borrowings. The table below outlines short-term borrowings at June 30, 2021 and December 31, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | At and for the six months ended June 30, 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Maximum | ​ | Weighted | ​ | Average |
​ | ​ | Ending | ​ | Average | ​ | Month-End | ​ | Average | ​ | Rate at |
​ |  | Balance |  | Balance |  | Balance |  | Rate |  | June 30,2021 |
Other borrowings |  | $ | ​ |  | $ | 589 |  | $ | 1,980 |  | 0.06 | % | ​ | %
FHLB advances | ​ | ​ | ​ | ​ | ​ | 28,177 | ​ | ​ | 50,000 |  | 0.55 | ​ | ​ | ​
Total short-term borrowings | ​ | $ | ​ | ​ | $ | 28,766 | ​ | $ | 51,980 |  | 0.54 | % | ​ | %
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At and for the year ended December 31, 2020 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted | ​ | Weighted |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Maximum | ​ | Average | ​ | Average |
​ | ​ | Ending | ​ | Average | ​ | Month-End | ​ | Rate for | ​ | Rate at End |
​ |  | Balance |  | Balance |  | Balance |  | the Year |  | of the Year |
FHLB advances | ​ | $ | 50,000 | ​ | $ | 83,716 | ​ | $ | 179,199 |  | 1.01 | % | 0.40 | %
​ The Company has an agreement with the FHLB which allows for borrowings up to its maximum borrowing capacity based on a percentage of qualifying collateral assets. At June 30, 2021, the maximum borrowing capacity was $814,067 of which $3,752 was outstanding in borrowings and $242,485 was used to issue standby letters of credit to collateralize public fund deposits. At December 31, 2020, the maximum borrowing capacity was $807,042 of which $64,769 was outstanding in borrowings and $218,350 was used to issue standby letters of credit to collateralize public fund deposits. Advances with the FHLB are secured under terms of a blanket collateral agreement by a pledge of FHLB stock and certain other qualifying collateral, such as investments and mortgage-backed securities and mortgage loans. Interest accrues daily on the FHLB advances based on rates of the FHLB discount notes. The overnight borrowing rate resets each day. Long-term debt consisting of advances from the FHLB at June 30, 2021 and December 31, 2020 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Interest Rate |  | ​ | ​ |  | ​ | ​ |
Due | ​ | Fixed | ​ | ​ | ​ | June 30, 2021 | ​ | ​ | December 31, 2020 |
June 2021 | ​ | 1.99 | ​ | ​ | $ | ​ | ​ | $ | 10,000 | ​
March 2023 | ​ | 4.69 | ​ | ​ | ​ | 3,752 | ​ | ​ | 4,769 | ​
​ | ​ | ​ | ​ | ​ | $ | 3,752 | ​ | $ | 14,769 | ​
​ Maturities of long-term debt, by contractual maturity, for the remainder of 2021 and subsequent years are as follows: ​
​ | ​ | ​ | ​ | ​
2021 |  | $ | 1,041 | ​
2022 | ​ |  | 2,156 | ​
2023 | ​ |  | 555 | ​
​ | ​ | $ | 3,752 | ​
​ The advances from the FHLB totaling $3,752 are not convertible.

X
- References No definition available. + Details
Name: | us-gaap_DebtCurrentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration