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Borrowed Funds (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Summary of borrowed funds

Borrowed funds consist of the following obligations at December 31:

			2020												2019
			Amount						Rate						Amount						Rate
FHLB advances			$	90,000					1.68		%				$	245,000					2.32		%
Securities sold under agreements to repurchase without stated maturity dates			68,747						0.13		%				30,999						0.09		%
Total			$	158,747					1.01		%				$	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 December 31:

			2020												2019
			Amount						Rate						Amount						Rate
Fixed rate due 2020			$	—					—		%				$	55,000					2.18		%
Fixed rate due 2021			50,000						1.91		%				50,000						1.91		%
Variable rate due 2021 (1)			10,000						0.52		%				10,000						2.20		%
Fixed rate due 2022			20,000						1.97		%				20,000						1.97		%
Fixed rate due 2023			—						—		%				45,000						2.97		%
Fixed rate due 2024			—						—		%				55,000						2.68		%
Fixed rate due 2026			10,000						1.17		%				10,000						1.17		%
Total			$	90,000					1.68		%				$	245,000					2.32		%

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

Summary of short term borrowings

We had no FRB Discount Window advances for the years ended December 31, 2020 and 2019. The following table provides a summary of securities sold under repurchase agreements without stated maturity dates and federal funds purchased at December 31:

			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			$	83,499					$	35,514					0.10		%				$	37,441					$	31,406					0.10		%
Federal funds purchased			—						4						0.49		%				7,070						687						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 December 31:

			2020						2019
Pledged to secure borrowed funds			$	302,041					$	368,310
Pledged to secure repurchase agreements			68,773						31,020
Pledged for public deposits and for other purposes necessary or required by law			39,641						59,537
Total			$	410,455					$	458,867

AFS securities pledged to repurchase agreements without stated maturity dates consisted of the following at December 31:

			2020						2019
States and political subdivisions			$	12,728					$	31,020
Mortgage-backed securities			30,250						—
Collateralized mortgage obligations			25,795						—
Total			$	68,773					$	31,020

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following tables provide information on derivatives related to variable rate borrowings as of December 31:

			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						0.3						$	10,000					Other liabilities						$	(54)

			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

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