Short-Term and Long-Term Borrowings

12 Months Ended

Dec. 31, 2022

Short-Term and Long-Term Borrowings [Abstract]

Short-Term and Long-Term Borrowings

(8) Short-Term and Long-Term Borrowings

The Company had no secured borrowings and no Federal Funds purchased at December 31, 2022 and December 31, 2021.

Additional short-term borrowings available to the Company consist of a line of credit and advances with the Federal Home Loan Bank (“FHLB”) secured under terms of a blanket collateral agreement by a pledge of FHLB stock and all loans. At December 31, 2022, the Company had a current collateral borrowing capacity with the FHLB of $365,786 and, at such date, also had unsecured formal lines of credit totaling $122,000 with correspondent banks.

The Company had no long-term borrowings at December 31, 2022 and 2021.