FHLB Advances

12 Months Ended

Dec. 31, 2020

FHLB Advances [Abstract]

FHLB Advances

9.FHLB ADVANCES

During the third quarter of 2018, the Company utilized $15.0 million in borrowings with the FHLB to purchase securities matching a spread expected to produce a suitable after-tax return. During 2020, the Company paid down $10.0 million of these FHLB advances.

The maturity and weighted-average interest rate of FHLB advances as of the periods indicated is as follows:

		As of December 31, 2020
(dollars in thousands)	Amount		Rate
2021	$	-	-	%
2022		-	-
2023		5,000	3.07
2024		-	-
2025		-	-
Total	$	5,000	3.07	%