Securities Sold Under Agreements to Repurchase

6 Months Ended

Jun. 30, 2023

Carrying Value of Securities Sold under Repurchase Agreements and Deposits Received for Securities Loaned [Abstract]

Securities Sold Under Agreements to Repurchase

Securities Sold Under Agreements to Repurchase

Information concerning securities sold under agreements to repurchase is as follows as of and for the periods ended:

	June 30, 2023			December 31, 2022
Amount outstanding at period-end	$	32,861		$	36,721
Average daily balance during the period	$	31,683		$	54,335
Average interest rate during the period	0.66		%	0.27		%
Maximum month-end balance during the period	$	40,432		$	70,838
Weighted average interest rate at period-end	0.79		%	0.42		%

At June 30, 2023 and December 31, 2022, such agreements were secured by investment and mortgage-related securities with an approximate carrying amount of $41,978 and $48,931, respectively. Pledged securities are maintained by safekeeping agents at the direction of the Bank. Our agreements to repurchase generally mature daily, and are considered to be in an overnight and continuous position.