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Other Borrowings	12 Months Ended
Dec. 31, 2023
Other Borrowings
Other Borrowings	(14) Other Borrowings The Company has a $5.0 million line of credit from an unrelated financial institution maturing on November 1, 2024, with an interest rate that adjusts daily based on the prime rate less 0.50%. This line of credit has covenants specific to capital and other financial ratios, which the Company was in compliance with at December 31, 2023. As of December 31, 2023 and 2022, the Company did not have an outstanding balance on the line of credit. The Company borrowed $10.0 million from an unrelated financial institution at a fixed rate of 6.15% maturing on September 1, 2027, which requires quarterly principal and interest payments. This borrowing has covenants specific to capital and other financial ratios, which the Company was in compliance with at December 31, 2023. The principal balance was $6.6 million and $9.0 million at December 31, 2023 and 2022, respectively. At December 31, 2023 and 2022, the Bank had no borrowings through the Federal Reserve discount window, while the borrowing capacity was $60.7 million and $65.4 million, respectively. The Bank also has various other federal funds agreements, both secured and unsecured, with correspondent banks totaling approximately $30.0 million at December 31, 2023 and 2022. As of December 31, 2023 and 2022, there were no borrowings through these correspondent bank federal funds agreements.

Other Borrowings

12 Months Ended

Dec. 31, 2023

(14) Other Borrowings

The Company has a $5.0 million line of credit from an unrelated financial institution maturing on November 1, 2024, with an interest rate that adjusts daily based on the prime rate less 0.50%. This line of credit has covenants specific to capital and other financial ratios, which the Company was in compliance with at December 31, 2023. As of December 31, 2023 and 2022, the Company did not have an outstanding balance on the line of credit.

The Company borrowed $10.0 million from an unrelated financial institution at a fixed rate of 6.15% maturing on September 1, 2027, which requires quarterly principal and interest payments. This borrowing has covenants specific to capital and other financial ratios, which the Company was in compliance with at December 31, 2023. The principal balance was $6.6 million and $9.0 million at December 31, 2023 and 2022, respectively.

At December 31, 2023 and 2022, the Bank had no borrowings through the Federal Reserve discount window, while the borrowing capacity was $60.7 million and $65.4 million, respectively. The Bank also has various other federal funds agreements, both secured and unsecured, with correspondent banks totaling approximately $30.0 million at December 31, 2023 and 2022. As of December 31, 2023 and 2022, there were no borrowings through these correspondent bank federal funds agreements.