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Borrowings (Tables)

12 Months Ended

Dec. 31, 2024

Borrowings [Abstract]

Short-Term 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	%

Collateral Pledged for Repurchase Agreements

		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

Other Borrowings

	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 of Other Borrowings

2025	$	52,658
2026		31,203
2027		5,996
2028		11,936
2029		—
	$	101,793

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Tabular disclosure of advance from Federal Home Loan Bank (FHLBank).

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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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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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