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BORROWINGS (Tables)

3 Months Ended

Mar. 31, 2024

BORROWINGS

Contractual Maturities and Weighted Average Interest Rates of FHLB Advances

The following table sets forth the contractual maturities and weighted average interest rates of the Company’s fixed rate FHLB advances for each of the next five years (in thousands):

​	​	​	​	​	​	​
​	​	Balance at March 31,				​
​	​	2024				​
​	​	​	​	​	Weighted	​
Contractual Maturity		Amount			Average Rate	​
Overnight	​	$	5,000	​	5.56	%
​	​	​	​	​	​	​
2024, rates from 0.39% to 0.49%	​	​	13,860	​	0.43	%
2025, rates from 0.56% to 0.59%	​	​	7,080	​	0.58	%
2026, rates from 4.29% to 4.98%	​	​	40,475	​	4.50	%
2027, rates from 4.13% to 4.74%	​	​	40,250	​	4.32	%
2028, rates from 3.99% to 4.58%	​		20,000		4.18	%
Total term advances	​	​	121,665	​	3.69	%
Total FHLB advances	​	$	126,665		3.77	%

​

​	​	​	​	​	​	​
​	​	Balance at December 31,				​
​	​	2023				​
​	​	​	​	​	Weighted	​
Contractual Maturity		Amount			Average Rate	​
Overnight	​	$	—	​	—	%
​	​	​	​	​	​	​
2024, rates from 0.39% to 2.53%	​	​	18,860	​	0.98	%
2025, rates from 0.56% to 0.59%	​	​	7,080	​	0.58	%
2026, rates from 4.29% to 4.98%	​	​	40,475	​	4.50	%
2027, rates from 4.13% to 4.74%	​	​	40,250	​	4.32	%
2028, rates from 3.99% to 4.58%		​	20,000		4.18	%
Total term advances		​	126,665		3.65	%
Total FHLB advances	​	$	126,665		3.65	%

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- References

No definition available.

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- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.13,16)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 470
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480876/942-470-45-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480848/942-470-50-3

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