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Borrowings (Tables)

12 Months Ended

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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Tabular disclosure of contractual maturities of other borrowings.

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Tabular disclosure of advances by federal home loan bank by branch.

+ 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
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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.

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-Publisher FASB
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-SubTopic 10
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Tabular disclosure, as of the most recent balance sheet date, of securities or other assets sold under repurchase agreements when this amount exceeds 10 percent of total assets. Disclosure may include the following: the type of securities or assets sold under agreements to repurchase, the carrying amount, market value (including accrued interest plus any cash or other assets on deposit. The information is segregated into securities maturing (1) overnight; (2) term up to 30 days; (3) term of 30 to 90 days; (4) term over 90 days; (5) demand.

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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(m)(1)(ii)(A))
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