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Repurchase Agreements (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
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, 
   2023   2022 
Average daily balance during the year  $18,361   $13,239 
Average interest rate during the year   2.72%   1.11%
Maximum month-end balance during the year  $20,083   $33,930 
Weighted average interest rate at year-end   2.84%   1.70%

 

                     
   As of December 31, 2023 
   Overnight and   Up to 30       Greater than     
   Continuous   days   30-90 days   90 days   Total 
Repurchase agreements:                         
U.S. federal treasury obligations  $12,714   $-   $-   $-   $12,714 
Total  $12,714   $-   $-   $-   $12,714 

 

                     
   As of December 31, 2022 
   Overnight and   Up to 30       Greater than     
   Continuous   days   30-90 days   90 days   Total 
Repurchase agreements:                         
U.S. federal treasury obligations  $25,973   $-   $-   $-   $25,973 
U.S. federal agency obligations   1,236    -    -    -    1,236 
Agency mortgage-backed securities   2,193    -    -    -    2,193 
Total  $29,402   $-   $-   $-   $29,402