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Short-Term Borrowings and Advances from Federal Home Loan Bank | 9 Months Ended
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Sep. 30, 2023
Short-Term Borrowings and Advances from Federal Home Loan Bank |
Short-Term Borrowings and Advances from Federal Home Loan Bank | 10. Short-Term Borrowings and Advances from Federal Home Loan Bank Total short-term and Federal Home Loan Bank (FHLB) borrowings and advances consist of the following (in thousands, except percentages): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At September 30, 2023 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted |
Type | ​ | Maturing | ​ | Amount | ​ | Average Rate |
Open Repo Plus |  | Overnight |  | $ | 63,451 |  | 5.68 | %
FHLB Advances |  | 2023 | ​ |  | 2,000 |  | 5.38 | ​
​ |  | 2024 | ​ |  | 5,197 |  | 2.02 | ​
​ |  | 2025 | ​ |  | — |  | — | ​
​ |  | 2026 | ​ |  | 6,920 |  | 3.94 | ​
​ | ​ | 2027 | ​ |  | 4,000 |  | 3.91 | ​
​ |  | 2028 and over | ​ |  | 4,000 |  | 4.47 | ​
Total FHLB advances |  |  | ​ |  | 22,117 |  | 3.71 | ​
Total short-term and FHLB borrowings |  |  | ​ | $ | 85,568 |  | 5.17 | %
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At December 31, 2022 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted |
Type | ​ | Maturing | ​ | Amount | ​ | Average Rate |
Open Repo Plus |  | Overnight |  | $ | 88,641 |  | 4.45 | %
FHLB Advances |  | 2023 | ​ |  | 15,568 |  | 1.59 | ​
​ |  | 2024 | ​ |  | 4,197 |  | 1.19 | ​
Total FHLB advances |  |  | ​ |  | 19,765 |  | 1.50 | ​
Total short-term and FHLB borrowings |  |  | ​ | $ | 108,406 |  | 3.91 | %
​ The rate on Open Repo Plus advances can change daily, while the rates on the advances are fixed until the maturity of the advance. All FHLB stock along with an interest in certain residential mortgage, commercial real estate, and commercial and industrial loans with an aggregate statutory value equal to the amount of the advances are pledged as collateral to the FHLB of Pittsburgh to support these borrowings.

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- Definition The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances. + References Reference 1: 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 2: 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 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481544/470-10-50-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 + Details
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