XML 39 R30.htm IDEA: XBRL DOCUMENT v3.22.2.2

Borrowed Funds (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Summary of short term borrowings

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

			Three Months Ended September 30
			2022																		2021
			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			$	54,051					$	49,267					0.07		%				$	67,519					$	62,790					0.10		%
Federal funds purchased			$	—					$	—					—		%				$	—					$	—					0.52		%

			Nine Months Ended September 30
			2022																		2021
			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			$	54,051					$	48,118					0.07		%				$	67,519					$	56,422					0.11		%
Federal funds purchased			$	—					$	1					0.79		%				$	80					$	2					0.40		%

Securities sold under agreements to repurchase are classified as secured borrowings and are reflected at the amount of cash received in connection with the transaction. The securities underlying the agreements have a carrying value and a fair value of $55,591 and $50,173 at September 30, 2022 and December 31, 2021, respectively. Such securities remain under our control. We may be required to provide additional collateral based on the fair value of underlying securities.

Securities sold under repurchase agreements without stated maturity dates were as follows as of:

			September 30, 2022												December 31, 2021
			Amount						Rate						Amount						Rate
Securities sold under agreements to repurchase without stated maturity dates			$	52,479					0.07		%				$	50,162					0.07		%

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 2022						December 31 2021
Pledged to secure borrowed funds			$	341,457					$	334,415
Pledged to secure repurchase agreements			55,591						50,173
Pledged for public deposits and for other purposes necessary or required by law			30,374						28,154
Total			$	427,422					$	412,742

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

			September 30 2022						December 31 2021
U.S. Treasury			$	19,542					$	9,711
States and political subdivisions			18,315						13,491
Mortgage-backed securities			7,370						13,174
Collateralized mortgage obligations			10,364						13,797
Total			$	55,591					$	50,173

Federal Home Loan Bank, Advances

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

			September 30, 2022												December 31, 2021
			Amount						Rate						Amount						Rate
Fixed rate due 2022			$	—					—		%				$	20,000					1.97		%

Schedule of Subordinated Borrowing

The following table summarizes our outstanding notes as of:

			September 30, 2022												December 31, 2021
			Amount						Rate						Amount						Rate
Fixed rate at 3.25% to floating, due 2031			$	30,000					3.25		%				$	30,000					3.25		%
Unamortized issuance costs			(775)												(842)
Total subordinated debt, net			$	29,225											$	29,158

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:	dtr-types: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://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 30
-Section 45
-Paragraph 1
-URI https://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 https://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729

+ Details

Name:	us-gaap_ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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 https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

+ Details

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

X

- Definition

Tabular disclosure of borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC uniform net capital rules for broker-dealers, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 45
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822

+ Details

Name:	us-gaap_ScheduleOfSubordinatedBorrowingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration