Borrowings (Tables)

12 Months Ended

Dec. 31, 2024


	2024			2023
	(Dollars in Thousands)
Balance at year-end	$	10,872		$	10,799
Average balance during the year	$	10,836		$	10,766
Maximum month-end balance during the year	$	10,872		$	10,799
Average rate paid during the year, including amortization of debt issuance costs		4.20	%		4.20	%
Weighted average remaining maturity (in years)		6.75			7.75

Schedule of Available Unused Lines of Credit

As of December 31, 2024 and 2023, the Company’s available unused lines of credit consisted of the following:


Available Unused Lines of Credit	Collateral Requirements	December 31, 2024	December 31, 2023
Correspondent banks	None	$48.0 million	$48.0 million
FHLB advances (1)	Subject to collateral	$319.9 million	$279.4 million
FRB (2)	Subject to collateral	$165.1 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 $55.4 million and $61.7 million as of December 31, 2024 and 2023, respectively. The Company’s collateral exposure with the FHLB in the form of advances and letters of credit was $10.0 million and $40.0 million as of December 31, 2024 and 2023, respectively, leaving an excess of collateral of $45.4 million and $21.7 million 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.