XML 40 R30.htm IDEA: XBRL DOCUMENT v3.20.2

Borrowed Funds (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Summary of borrowed funds

Borrowed funds consist of the following obligations as of:

			September 30, 2020												December 31, 2019
			Amount						Rate						Amount						Rate
FHLB advances			$	205,000					2.24		%				$	245,000					2.32		%
Securities sold under agreements to repurchase without stated maturity dates			33,349						0.09		%				30,999						0.09		%
Total			$	238,349					1.94		%				$	275,999					2.07		%

Federal Home Loan Bank, Advances

The following table lists the maturities and weighted average interest rates of FHLB advances as of:

			September 30, 2020												December 31, 2019
			Amount						Rate						Amount						Rate
Fixed rate due 2020			$	15,000					1.75		%				$	55,000					2.18		%
Fixed rate due 2021			50,000						1.91		%				50,000						1.91		%
Variable rate due 2021 (1)			10,000						0.58		%				10,000						2.20		%
Fixed rate due 2022			20,000						1.97		%				20,000						1.97		%
Fixed rate due 2023			45,000						2.97		%				45,000						2.97		%
Fixed rate due 2024			55,000						2.68		%				55,000						2.68		%
Fixed rate due 2026			10,000						1.17		%				10,000						1.17		%
Total			$	205,000					2.24		%				$	245,000					2.32		%

(1)Hedged advance (see “Derivative Instruments” section below)

Summary of short term borrowings

A summary of securities sold under repurchase agreements without stated maturity dates and federal funds purchased was as follows for the:

			Three Months Ended September 30
			2020																		2019
			Maximum Month End Balance						Average Balance						Weighted Average Interest Rate During the Period						Maximum Month End Balance						Average Balance						Weighted Average Interest Rate During the Period
Securities sold under agreements to repurchase without stated maturity dates			$	33,349					$	30,578					0.10		%				$	32,386					$	32,520					0.09		%
Federal funds purchased			$	—					$	5					0.49		%				$	—					$	317					2.61		%

			Nine Months Ended September 30
			2020																		2019
			Maximum Month End Balance						Average Balance						Weighted Average Interest Rate During the Period						Maximum Month End Balance						Average Balance						Weighted Average Interest Rate During the Period
Securities sold under agreements to repurchase without stated maturity dates			$	33,349					$	30,845					0.10		%				$	37,441					$	31,350					0.10		%
Federal funds purchased			$	—					$	2					0.49		%				$	7,070					$	919					2.64		%

Summary of pledged financial instruments

We had pledged AFS securities and 1-4 family residential real estate loans in the following amounts at:

			September 30 2020						December 31 2019
Pledged to secure borrowed funds			$	340,685					$	368,310
Pledged to secure repurchase agreements			33,375						31,020
Pledged for public deposits and for other purposes necessary or required by law			40,493						59,537
Total			$	414,553					$	458,867

AFS securities pledged to repurchase agreements without stated maturity dates consisted of the following at:

			September 30 2020						December 31 2019
States and political subdivisions			$	17,026					$	31,020
Mortgage-backed securities			9,081						—
Collateralized mortgage obligations			7,268						—
Total			$	33,375					$	31,020

Schedule of derivative instruments

The following tables provide information on derivatives related to variable rate borrowings as of:

September 30, 2020

Pay Rate

Receive Rate

Remaining Life (Years)

Notional Amount

Balance Sheet Location

Fair Value

Derivatives designated as hedging instruments

Cash Flow Hedges:

Interest rate swaps

1.56

%

3-Month LIBOR

0.6

$

10,000

Other liabilities

$

(78)

December 31, 2019

Pay Rate

Receive Rate

Remaining Life (Years)

Notional Amount

Balance Sheet Location

Fair Value

Derivatives designated as hedging instruments

Cash Flow Hedges:

Interest rate swaps

1.56

%

3-Month LIBOR

1.3

$

10,000

Other assets

$

67

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of advances made and reported by Federal Home Loan Bank (FHLBank).

+ References

No definition available.

+ Details

Name:	us-gaap_FederalHomeLoanBankAdvancesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financial instruments held by the entity for its own account for trading or investment purposes that are carried at fair value and pledged to counterparties as collateral for financing transactions. Description may include equity, fixed income, debt or other securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66007379&loc=d3e113888-111728

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 30
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729

+ Details

Name:	us-gaap_ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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=6877327&loc=d3e13212-122682

+ Details

Name:	us-gaap_ScheduleOfShortTermDebtTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration