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v3.24.3

Borrowed Funds (Tables) | 9 Months Ended
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Sep. 30, 2024
Borrowed Funds |
Schedule of borrowings | The following is a summary of borrowings at September 30, 2024 and December 31, 2023:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) | ​ | September 30, 2024 | ​ | December 31, 2023
Short-term borrowings: | ​ | ​ | ​ | ​ | ​ | ​
Securities sold under agreements to repurchase: | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at end of period | ​ | $ | 21,206 | ​ | $ | 45,418
Weighted average interest rate at end of period | ​ | ​ | 0.24% | ​ | ​ | 0.27%
Maximum amount outstanding as of any month end | ​ | $ | 44,415 | ​ | $ | 59,777
Average amount outstanding | ​ | $ | 33,290 | ​ | $ | 50,498
Approximate weighted average rate during the period | ​ | ​ | 0.26% | ​ | ​ | 0.24%
Overnight borrowings, weighted average interest rate of 5.00% at September 30, 2024 | ​ | $ | 29,000 | ​ | $ | —
Long-term borrowings: | ​ | ​ | ​ | ​ | ​ | ​
FHLB advances, bearing fixed interest rate ranging from 3.84% to 4.04% at September 30, 2024 and rates ranging from 4.53% to 4.69% at December 31, 2023. | ​ | $ | 90,000 | ​ | $ | 80,000
Junior subordinated debt, bearing variable interest rate of 7.95% at September 30, 2024 and 8.39% at December 31, 2023 | ​ | ​ | 30,929 | ​ | ​ | 30,929
Total borrowings outstanding | ​ | $ | 171,135 | ​ | $ | 156,347
Summary of contractual maturities of long-term borrowings | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2024 | ​ | December 31, 2023
(in thousands) | ​ | Fixed Rate | ​ | Floating Rate | ​ | Total | ​ | Fixed Rate | ​ | Floating Rate | ​ | Total
Due in 2024 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 80,000 | ​ | $ | — | ​ | $ | 80,000
Due in 2025 | ​ | ​ | 25,000 | ​ | ​ | — | ​ | ​ | 25,000 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Due in 2026 | ​ | ​ | 65,000 | ​ | ​ | — | ​ | ​ | 65,000 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Thereafter | ​ | ​ | — | ​ | ​ | 30,929 | ​ | ​ | 30,929 | ​ | ​ | — | ​ | ​ | 30,929 | ​ | ​ | 30,929
Total long-term debt | ​ | $ | 90,000 | ​ | $ | 30,929 | ​ | $ | 120,929 | ​ | $ | 80,000 | ​ | $ | 30,929 | ​ | $ | 110,929
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