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Note 9 - Pledged Collateral Related to Securities Sold Under Repurchase Agreements

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block]

Note 9. Pledged Collateral Related to Securities Sold Under Repurchase Agreements

The repurchase agreements mature daily and the following sets forth the pledged collateral at estimated fair value related to securities sold under repurchase agreements (repurchase agreements) as of December 31, 2023 and 2022 (in thousands):

		2023				2022
Securities sold under agreements to repurchase:
U.S. government treasuries		$	22,877			$	12,555
U.S. government agencies			44,960				39,226
U.S. government mortgage-backed securities			7,369				9,133
Total pledged collateral		$	75,206			$	60,914

The following table summarizes the outstanding amount of, and the average rate on, repurchase agreements as of December 31, 2023 and 2022 (dollars in thousands).

		2023								2022
						Average								Average
		Balance				Rate				Balance				Rate
Repurchase agreements		$	53,994				2.83	%		$	40,676				2.50	%

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- References

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- Definition

The entire disclosure for repurchase agreements (also known as repos), resale agreements (also known as reverse repurchase agreements or reverse repos), securities borrowed transactions, and securities loaned transactions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 860
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//860/tableOfContent

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