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Borrowings (Tables)
 12 Months Ended
Dec. 31, 2023
Advance from Federal Home Loan Bank [Abstract]  
Summary of short-term borrowings consisting of FHLB advances and federal funds purchased

The following table presents selected information on short-term borrowings for the years ended December 31, 2023 and 2022, consisting of FHLB advances and federal funds purchased.

 

 

 

December 31,

 

 

 

2023

 

 

2022

 

 

 

(dollars in thousands)

 

Balance at year-end

 

$

20,000

 

 

$

207,980

 

Average balance during the year

 

$

45,801

 

 

$

47,470

 

Average interest rate during the year

 

 

4.68

%

 

 

3.09

%

Maximum month-end balance during the year

 

$

150,000

 

 

$

207,980