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v3.22.4

Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2022
Borrowings [Abstract] |
Short-Term 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 | %
Collateral Pledged for Repurchase Agreements |
|  | 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
Other Borrowings |
| 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 of Other Borrowings |
2023 | $ | 40,000
| $ | 40,000

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