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Borrowings | 12 Months Ended
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Dec. 31, 2022
Borrowings [Abstract] |
Borrowings | NOTE 7 – BORROWINGS Short-term borrowings at December 31 consist of the following:
| 2022 |  | 2021
| (In Thousands)
Securities sold under agreements to repurchase | $ | 50,951 |  | $ | 60,822
Federal Home Loan Bank short-term borrowings |  | 42,264 |  |  | —
| $ | 93,215 |  | $ | 60,822
The outstanding balances and related information of short-term borrowings are summarized as follows:
| Years Ended December 31, |
| 2022 |  |  | 2021 |
| (Dollars In Thousands)
Average balance during the year | $ | 69,711 |  |  | $ | 73,810 |
Average interest rate during the year |  | 0.75 | % |  |  | 0.39 | %
Maximum month-end balance during the year | $ | 93,215 |  |  | $ | 90,409 |
Weighted average interest rate at the end of the year |  | 2.65 | % |  |  | 0.34 | %
Securities sold under agreements to repurchase generally mature within one day to one year from the transaction date. Securities with an amortized cost and fair value of $63,737,000 and $54,562,000 at December 31, 2022 and $66,353,000 and $65,162,000 at December 31, 2021, respectively, were pledged as collateral for these agreements. The securities underlying the agreements were under the Company’s control. The collateral pledged for repurchase agreements that are classified as secured borrowings is summarized as follows (in thousands):
|  | As of December 31, 2022
|  | Remaining Contractual Maturity of the Agreements
|  | Overnight and continuous |  | Up to 30 days |  | 30-90 days |  | Greater than 90 days |  | Total
Repurchase Agreements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - government sponsored entities |  | $ | 54,562 |  | $ | — |  | $ | — |  | $ | — |  | $ | 54,562
Total liability recognized for repurchase agreements |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 50,951
|  | As of December 31, 2021 |  |  |
|  | Remaining Contractual Maturity of the Agreements
|  | Overnight and continuous |  | Up to 30 days |  | 30-90 days |  | Greater than 90 days |  | Total
Repurchase Agreements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities - government sponsored entities |  | $ | 65,162 |  | $ | — |  | $ | — |  | $ | — |  | $ | 65,162
Total liability recognized for repurchase agreements |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 60,822
The Company has a line of credit commitment available from the FHLB of Pittsburgh for borrowings of up to $150,000,000, which renews annually in June. At December 31, 2022, there was $42,264,000 of borrowings outstanding on this line. There were no borrowings outstanding on this line of credit at December 31, 2021. The Company has a line of credit commitment available from Atlantic Community Bankers Bank for $7,000,000, which expires on June 30, 2023. There were no borrowings under this line of credit at December 31, 2022 and 2021. The Company has a line of credit commitment available from PNC Bank for $16,000,000 at December 31, 2022. There were no borrowings under this line of credit at December 31, 2022 and December 31, 2021. The Company also has a line of credit commitment from Zions Bank for $17,000,000 at December 31, 2022. There were no borrowings under this line of credit at December 31, 2022 and December 31, 2021. Other borrowings consisted of the following at December 31, 2022 and 2021:
| 2022 |  | 2021
| (In Thousands)
Amortizing fixed rate borrowing due March 2022 at 1.75% | $ | — |  | $ | 227
Amortizing fixed rate borrowing due August 2022 at 1.94% |  | — |  |  | 1,364
Amortizing fixed rate borrowing due October 2022 at 1.88% |  | — |  |  | 1,386
Amortizing fixed rate borrowing due October 2023 at 3.24% |  | — |  |  | 3,856
Amortizing fixed rate borrowing due December 2023 at 3.22% |  | — |  |  | 2,097
Fixed rate term borrowing due December 2023 at 1.95% |  | — |  |  | 10,000
Amortizing fixed rate borrowing due December 2023 at 1.73% |  | — |  |  | 5,190
Amortizing fixed rate borrowing due April 2024 at 0.91% |  | — |  |  | 5,878
Amortizing fixed rate borrowing due December 2023 at 5.08% |  | 40,000 |  |  | —
| $ | 40,000 |  | $ | 29,998
Contractual maturities and scheduled cash flows of other borrowings at December 31, 2022 are as follows (in thousands):
2023 | $ | 40,000
| $ | 40,000
The Bank’s maximum borrowing capacity with the FHLB was $655,344,000 of which $82,264,000 was outstanding in the form of advances and $92,900,000 was outstanding in the form of letters of credit at December 31, 2022. Advances from the FHLB are secured by qualifying assets of the Bank.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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