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Short-Term Borrowings

12 Months Ended

Dec. 31, 2021

Note 12: Short-Term Borrowings

($ in thousands)		2021				2020
Securities Sold Under Repurchase Agreements		$	15,320			$	20,189

The Company has retail repurchase agreements to facilitate cash management transactions with commercial customers. These obligations were secured by agency securities of $8.4 million and $10.7 million for 2021 and 2020, respectively, and mortgage-backed securities of $15.2 million and $17.5 million for 2021 and 2020, respectively. The collateral is held at the FHLB and has maturities from 2022 through 2051. At December 31, 2021, these repurchase agreements totaled $15.3 million. The maximum amount of outstanding agreements at any month end during 2021 and 2020 totaled $34.2 million and $25.6 million, respectively, and the monthly average of such agreements totaled $22.8 million and $20.8 million during 2021 and 2020, respectively. The repurchase agreements mature within one month.

The Company has borrowing capabilities at the Federal Reserve Discount Window (“Discount Window”) by pledging either securities or loans as collateral. As of December 31, 2021, there was no collateral pledged or borrowings drawn at the Discount Window.

At December 31, 2021 and December 31, 2020, the Company had $41.0 million in federal funds lines, of which none were drawn.