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BORROWED FUNDS AND SUBORDINATED DEBT (Tables)

9 Months Ended

Sep. 30, 2020

BORROWED FUNDS AND SUBORDINATED DEBT

Schedule of short term borrowings

​

​	​	​	​	​	​	​
(In Thousands)		September 30,			December 31,
​	​	2020		​	2019
FHLB-Pittsburgh borrowings	​	$	38,557	​	$	84,292
Customer repurchase agreements	​		2,313	​		1,928
Total short-term borrowings	​	$	40,870	​	$	86,220

​

​

​	​	​	​	​	​	​
(In Thousands)		September 30,			December 31,
​	​	2020		​	2019
Overnight borrowing	​	$	0	​	$	64,000
Other short-term advances	​		38,557	​		20,292
Total short-term FHLB-Pittsburgh borrowings	​	$	38,557	​	$	84,292

​

Schedule of long term borrowings

​

​	​	​	​	​	​	​
(In Thousands)		September 30,			December 31,
​	​	2020		​	2019
Loans matured in 2020 with a weighted-average rate of 2.71%	​	$	0	​	$	5,069
Loans maturing in 2021 with a weighted-average effective rate of 1.36%	​	​	26,124	​	​	6,000
Loans maturing in 2022 with a weighted-average effective rate of 1.40%	​	​	35,740	​	​	20,000
Loans maturing in 2023 with a weighted-average effective rate of 1.44%	​	​	27,750	​	​	20,500
Loans maturing in 2024 with a weighted-average effective rate of 1.06%	​	​	12,683	​	​	0
Loan maturing in 2025 with a rate of 4.91%	​		490	​		558
Total long-term FHLB-Pittsburgh borrowings	​	$	102,787	​	$	52,127

Schedule of outstanding subordinated debt

​

​	​	​	​	​	​	​
(In Thousands)		September 30,			December 31,
​	​	2020		​	2019
Agreements with an aggregate par value of $8,000,000; bearing interest at 6.25%; maturing in June 2026 and redeemable at par in June 2021	​	$	8,042	​	$	0
Agreements with an aggregate par value of $6,500,000; bearing interest at 6.50%; maturing in April 2027 and redeemable at par in April 2022	​	​	6,500	​	​	6,500
Agreement with a par value of $2,000,000; bearing interest at 6.50%; maturing in July 2027 and redeemable at par in July 2022	​	​	2,030	​	​	0
Total carrying value	​	$	16,572	​	$	6,500

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Schedule of outstanding subordinated debt.

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- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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