XML 31 R15.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Borrowings | 12 Months Ended
--- | ---
Dec. 31, 2024
Borrowings [Abstract] |
Borrowings | NOTE 7 – BORROWINGS Short-term borrowings at December 31 consist of the following:
| 2024 |  | 2023
| (In Thousands)
Securities sold under agreements to repurchase | $ | 36,337 |  | $ | 54,076
Federal Home Loan Bank short-term borrowings |  | 76,732 |  |  | 20,000
| $ | 113,069 |  | $ | 74,076
The outstanding balances and related information of short-term borrowings are summarized as follows:
| Years Ended December 31, |
| 2024 |  |  | 2023 |
| (Dollars In Thousands)
Average balance during the year | $ | 54,867 |  |  | $ | 93,455 |
Average interest rate during the year |  | 2.48 | % |  |  | 3.26 | %
Maximum month-end balance during the year | $ | 113,069 |  |  | $ | 136,408 |
Total short-term borrowings at end of the year | $ | 113,069 |  |  | $ | 74,076 |
Weighted average interest rate at the end of the year |  | 3.79 | % |  |  | 3.14 | %
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 $44,021,000 and $36,561,000 at December 31, 2024 and $63,542,000 and $55,056,000 at December 31, 2023, 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, 2024
|  | Remaining Contractual Maturity of the Agreements
|  | Overnight and continuous |  | Up to 30 days |  | 30-90 days |  | Greater than 90 days |  | Total
Repurchase Agreements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agencies |  | $ | 1,997 |  | $ |  |  | $ |  |  | $ |  |  | $ | 1,997
Mortgage-backed securities - government sponsored entities |  |  | 34,564 |  |  | — |  |  | — |  |  | — |  |  | 34,564
|  | $ | 36,561 |  | $ | — |  | $ | — |  | $ | — |  | $ | 36,561
Total liability recognized for repurchase agreements |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 36,337
|  | As of December 31, 2023 |  |  |
|  | 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 |  | $ | 55,056 |  | $ | — |  | $ | — |  | $ | — |  | $ | 55,056
Total liability recognized for repurchase agreements |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 54,076
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, 2024, there was $26,732,000 of borrowings outstanding on this line. There was $20,000,000 of borrowings outstanding on this line of credit at December 31, 2023. The Company has a line of credit commitment available from Atlantic Community Bankers Bank for $7,000,000, which expires on June 30, 2025. There were no borrowings under this line of credit at December 31, 2024 and 2023. The Company has a line of credit commitment available from PNC Bank for $10,000,000 at December 31, 2024. There were no borrowings under this line of credit at December 31, 2024 and December 31, 2023. Other borrowings consisted of the following at December 31, 2024 and 2023:
| 2024 |  | 2023
| (In Thousands)
Notes with the FHLB: |  |  |  |  |
Fixed rate borrowing due April 2025 at 4.26% | $ | 20,000 |  | $ | 20,000
Amortizing fixed rate borrowing due September 2025 at 5.67% |  | 1,941 |  |  | 4,406
Fixed rate borrowing due April 2026 at 4.04% |  | 20,000 |  |  | 20,000
Amortizing fixed rate borrowing due May 2027 at 4.37% |  | 18,751 |  |  | 25,950
Amortizing fixed rate borrowing due July 2028 at 4.70% |  | 11,101 |  |  | 13,880
Fixed rate borrowing due July 2028 at 4.49% |  | 10,000 |  |  | 10,000
| $ | 81,793 |  | $ | 94,236
Notes with the Federal Reserve Bank: |  |  |  |  |
Fixed rate borrowing due March 2024 at 4.83% | $ | - |  | $ | 10,000
Fixed rate borrowing due September 2024 at 5.55% |  | - |  |  | 20,000
Fixed rate borrowing due January 2025 at 4.76% |  | 20,000 |  |  | -
| $ | 20,000 |  | $ | 30,000
Contractual maturities and scheduled cash flows of other borrowings at December 31, 2024 are as follows (in thousands):
2025 | $ | 52,658
2026 |  | 31,203
2027 |  | 5,996
2028 |  | 11,936
2029 |  | —
| $ | 101,793
The Bank’s maximum borrowing capacity with the FHLB was $654,838,000 of which $158,525,000 was outstanding in the form of advances and $146,975,000 was outstanding in the form of letters of credit at December 31, 2024. Advances from the FHLB are secured by qualifying assets of the Bank. The total available credit from the Federal Reserve Bank was $25,000,000, of which $20,000,000 was outstanding.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 405 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477092/405-40-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 405 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477092/405-40-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 405 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477092/405-40-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 405 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477092/405-40-50-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 405 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477092/405-40-50-1 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration