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Repurchase Agreements (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Repurchase Agreements

The following is a summary of the balances and collateral of the Company’s repurchase agreements:

(Dollars in thousands)		Years ended December 31,
		2021				2020
Average daily balance during the year		$	5,915			$	11,066
Average interest rate during the year			0.19	%			0.20	%
Maximum month-end balance during the year		$	8,250			$	17,939
Weighted average interest rate at year-end			0.19	%			0.18	%

		As of December 31, 2021
		Overnight and Continuous				Up to 30 days				30-90 days				Greater than 90 days				Total
Repurchase agreements:
U.S. federal treasury obligations		$	325			$	-			$	-			$	-			$	325
U.S. federal agency obligations			3,008				-				-				-				3,008
Agency mortgage-backed securities			4,070				-				-				-				4,070
Total		$	7,403			$	-			$	-			$	-			$	7,403

		As of December 31, 2020
		Overnight and				Up to 30				30-90				Greater than 90
		Continuous				days				days				days				Total
Repurchase agreements:
U.S. federal agency obligations		$	2,412			$	-			$	-			$	-			$	2,412
Agency mortgage-backed securities			3,959				-				-				-				3,959
Total		$	6,371			$	-			$	-			$	-			$	6,371