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Borrowings (Tables) | 3 Months Ended
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Mar. 31, 2024
Debt Disclosure [Abstract] |
Summary of Long-Term Borrowings | The table below provides additional information related to the Notes as of and for the three months ended March 31, 2024 and 2023.
|  | March 31, |  | March 31,
|  | 2024 |  | 2023
|  | (Dollars in Thousands)
Balance at period-end |  | $10,817 |  | $10,744
Average balance during the period |  | $10,811 |  | $10,738
Maximum month-end balance during the period |  | $10,817 |  | $10,744
Average rate paid during the period, including amortization of debt issuance costs |  | 4.20% |  | 4.20%
Weighted average remaining maturity (in years) |  | 7.50 |  | 8.50
Schedule of Available Unused Lines of Credit | As of March 31, 2024 and December 31, 2023, the Company’s available unused lines of credit consisted of the following:
Available Unused Lines of Credit |  | Collateral Requirements |  | March 31, 2024 |  | December 31, 2023
Correspondent banks |  | None |  | $48.0 million |  | $48.0 million
FHLB advances (1) |  | Subject to collateral |  | $276.8 million |  | $279.4 million
FRB (2) |  | Subject to collateral |  | $158.8 million |  | $161.7 million
(1) These amounts represent the total remaining credit the Company has from the FHLB, but this credit can only be utilized to the extent that underlying collateral exists. The total lendable collateral value of assets pledged (including loans and investment securities) associated with FHLB advances and letters of credit totaled $60.9 million and $61.7 million as of March 31, 2024 and December 31, 2023, respectively. The Company’s collateral exposure with the FHLB in the form of advances and letters of credit was $45.0 million and $40.0 million as of March 31, 2024 and December 31, 2023, respectively, leaving an excess of collateral of $15.9 million and $21.7 million, respectively, available to utilize for additional credit as of the respective dates. The Company also has the ability to pledge additional assets to increase the availability of borrowings. (2) The Company has access to the FRB's discount window, which allows borrowing on pledged collateral that includes eligible investment securities and loans under 90-day terms. The amounts shown in the table represent the Company's unused borrowing capacity as of the applicable date based on collateral pledged to the FRB's discount window.

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- Definition Tabular disclosure of advances by federal home loan bank by branch. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13,16) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 470 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480876/942-470-45-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480848/942-470-50-3 + Details
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