XML 28 R17.htm IDEA: XBRL DOCUMENT v3.24.1.u1

Short-Term Borrowings

3 Months Ended

Mar. 31, 2024

Short-Term Borrowings [Abstract]

SHORT-TERM BORROWINGS

NOTE 9 – SHORT-TERM BORROWINGS

($ in thousands)		March 31, 2024				December 31, 2023
Securities sold under repurchase agreements		$	12,916			$	13,387

The Company has retail repurchase (“REPO”) agreements to facilitate cash management transactions with commercial customers. These obligations are secured by agency and mortgage-backed securities and such collateral is held by the Federal Home Loan Bank (“FHLB”). These securities have various maturity dates from 2025 through 2051. As of March 31, 2024, these REPO agreements were secured by securities with a fair value totaling $18.9 million. The REPO agreements mature within one month.

The Company has borrowing capabilities at the Federal Reserve Discount Window (“Discount Window”) and the Bank Term Funding Program (“BTFP”) by pledging either securities or loans as collateral. As of March 31, 2024, there was $20.3 million pledged to the Federal Reserve Discount Window.

At March 31, 2024, and December 31, 2023, the Company had $41.0 million in federal funds lines, of which none was drawn.

X

- References

No definition available.

+ Details

Name:	us-gaap_ShortTermBorrowingsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for short-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

+ Details

Name:	us-gaap_ShortTermDebtTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration