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Borrowed Funds (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31
			2023																		2022
			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			$	54,236					$	39,706					1.33		%				$	53,970					$	49,058					0.07		%
Federal funds purchased			$	—					$	3					5.27		%				$	—					$	1					0.61		%

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 $35,848 and $58,291 at March 31, 2023 and December 31, 2022, 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:

			March 31, 2023												December 31, 2022
			Amount						Rate						Amount						Rate
Securities sold under agreements to repurchase without stated maturity dates			$	31,995					1.80		%				$	57,771					0.49		%

Summary of pledged financial instruments

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

			March 31 2023						December 31 2022
Pledged to secure borrowed funds			$	347,101					$	347,331
Pledged to secure repurchase agreements			35,848						58,291
Pledged for public deposits and for other purposes necessary or required by law			74,017						48,698
Total			$	456,966					$	454,320

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

			March 31 2023						December 31 2022
U.S. Treasury			$	32,242					$	29,351
States and political subdivisions			2,960						11,037
Mortgage-backed securities			646						6,819
Collateralized mortgage obligations			—						11,084
Total			$	35,848					$	58,291

Schedule of Subordinated Borrowing

The following table summarizes our outstanding notes as of:

			March 31, 2023												December 31, 2022
			Amount						Rate						Amount						Rate
Fixed rate at 3.25% to floating, due 2031			$	30,000					3.25		%				$	30,000					3.25		%
Unamortized issuance costs			(733)												(755)
Total subordinated debt, net			$	29,267											$	29,245

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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

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-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

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- 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

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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

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