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Short-Term Borrowings

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Short-term Debt [Text Block]

Note 10: Short-Term Borrowings

($ in thousands)		2019				2018
Securities Sold Under Repurchase Agreements		$	12,945			$	15,184

The Company has retail repurchase agreements to facilitate cash management transactions with commercial customers. Securing these obligations are agency securities of $4.5 and $3.1 million for 2019 and 2018, respectively, and mortgage-backed securities of $15.0 and $14.8 million for 2019 and 2018, respectively, which are held at the FHLB. This collateral has maturities from 2022 through 2044. At December 31, 2019, retail repurchase agreements totaled $12.9 million. The maximum amount of outstanding agreements at any month end during 2019 and 2018 totaled $22.7 and $18.3 million, respectively, and the monthly average of such agreements totaled $15.3 and $16.5 million, respectively. The retail repurchase agreements mature within one month.

At December 31, 2019 and December 31, 2018, the Company had $41.0 million in federal funds lines, of which none were drawn.

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- Definition

The entire disclosure for short-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

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