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BORROWED FUNDS AND REPURCHASE AGREEMENTS (Tables)
 12 Months Ended
Dec. 31, 2021
BORROWED FUNDS AND REPURCHASE AGREEMENTS [Abstract]  
Borrowed Funds

The following table shows the breakdown of borrowed funds as of December 31, 2021 and 2020 (dollars in thousands):

    Securities    
                                     
    Sold Under     FHLB     Federal     FRB                       Total  
    Agreements to     Advances     Funds     BIC     Subordinated
    Notes     Term     Borrowed  
 
Repurchase(a)
    
(b)
    
Lines (c)
    
Line (d)
     Debt (e)
    
Payable (f)
    
Loans(g)
    
Funds
  
2021
                                                
Balance at December 31
  
$
16,873
    
$
-
    
$
-
    
$
-
     $ 9,879    
$
7,500
    
$
39,725
    
$
73,977
  
Highest balance at any month-end
    
16,873
      
-
      
-
      
-
       9,879      
7,500
      
66,525
      
100,777
  
Average balance
    
14,726
      
-
      
-
      
-
       7,036      
7,500
      
55,360
      
84,622
  
Weighted average interest rate:
                                                                
Paid during the year
    
0.06
%
    
0.00
%
    
0.51
%
    
0.22
%
     4.17 %    
3.57
%
    
1.26
%
    
1.50
%
As of year-end
    
0.08
%
    
0.00
%
    
0.00
%
    
0.00
%
     4.18 %    
3.57
%
    
1.15
%
    
1.56
%
2020
                                                                
Balance at December 31
  
$
14,813
    
$
-
    
$
-
    
$
-
     $ -    
$
7,500
    
$
66,525
    
$
88,838
  
Highest balance at any month-end
    
14,813
      
67,106
      
-
      
-
       -      
7,500
      
79,022
      
168,441
  
Average balance
    
12,903
      
12,371
      
-
      
109
       -      
7,500
      
60,355
      
93,238
  
Weighted average interest rate:
                                                                
Paid during the year
    
0.36
%
    
1.63
%
    
0.51
%
    
0.34
%
     0.00 %    
3.83
%
    
1.19
%
    
1.34
%
As of year-end
    
0.11
%
    
0.00
%
    
0.00
%
    
0.00
%
     0.00 %    
3.57
%
    
1.12
%
    
1.16
%
Remaining Contractual Maturity of Repurchase Agreements

 
Remaining Contractual Maturity of the Agreements
  
    Overnight and     Up to    
    Greater than    
 
2021
  
Continuous
    
30 Days
    
30 - 90 Days
    
90 days
    
Total
  
Repurchase Agreements:
                              
U.S. agency securities
  
$
17,155
    
$
-
    
$
-
    
$
-
    
$
17,155
  
Total carrying value of collateral pledged
  
$
17,155
    
$
-
    
$
-
    
$
-
    
$
17,155
  
Total liability recognized for repurchase agreements
                                  
$
16,873
  

 
Remaining Contractual Maturity of the Agreements
  
    Overnight and     Up to    
    Greater than    
 
2020
  
Continuous
    
30 Days
    
30 - 90 Days
    
90 days
    
Total
  
Repurchase Agreements:
                              
U.S. agency securities
  
$
16,735
    
$
-
    
$
-
    
$
-
    
$
16,735
  
Total carrying value of collateral pledged
  
$
16,735
    
$
-
    
$
-
    
$
-
    
$
16,735
  
Total liability recognized for repurchase agreements
                                  
$
14,813
  
Federal Home Loan Bank Loans by Branch
Interest Rate
  
Maturity
  
December 31,
2021
    
December31,
2020
  
Fixed:
                
 
0.38
%
January 4, 2021
    
-
      
25,000
  
 
0.26
%
January 3, 2022
    
25,000
      
-
  
 
2.08
%
January 6, 2022
    
4,725
      
4,725
  
 
2.46
%
March 28, 2024
    
5,000
      
5,000
  
 
1.69
%
August 20, 2024
    
5,000
      
5,000
  
 
2.61
%
February 3, 2021
    
-
      
2,000
  
 
3.52
%
July 12, 2021
    
-
      
2,000
  
 
2.37
%
August 20, 2021
    
-
      
2,800
  
 
0.25
%
July 9, 2021
    
-
      
15,000
  
 
1.24
%
March 3, 2025
    
-
      
5,000
  
Total term loans
      
$
39,725
    
$
66,525
  
Maturities of Borrowed Funds

Following are maturities of borrowed funds as of December 31, 2021 (in thousands):

2022
  
$
46,598
  
2023
    
-
  
2024
    
10,000
  
2025
    
-
  
2026
    
-
  
Thereafter
    
17,379
  
Total borrowed funds
  
$
73,977