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Short-term Borrowings | 12 Months Ended
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Dec. 31, 2020
Short-term Debt: |
Short-term Debt Text Block | NOTE 9: SHORT-TERM BORROWINGS At December 31, 2020 and 2019, the composition of short-term borrowings is presented below. 2020 2019 Weighted Weighted (Dollars in thousands) Amount Avg. Rate Amount Avg. Rate Federal funds purchased: As of December 31 $ — — $ — — Average during the year 1 0.78 % 1 2.58 % Maximum outstanding at any month-end — — Securities sold under agreements to repurchase: As of December 31 $ 2,392 0.50 % $ 1,069 0.50 % Average during the year 1,822 0.50 % 1,442 0.50 % Maximum outstanding at any month-end 2,496 2,261 Federal funds purchased represent unsecured overnight borrowings from other financial institutions by the Bank. The Bank had available federal fund lines totaling $ 41 .0 million with none outstanding at December 31, 2020. Securities sold under agreements to repurchase represent short -term borrowings with maturities less than one year collateralized by a portion of the Company’s securities portfolio. Securities with an aggregate carrying value of $ 5.7 million and $ 2.6 million at December 31, 2020 and 2019, respectively, were pledged to secure securities sold under agreements to repurchase.

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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 + Details
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