SHORT-TERM BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2022

SHORT-TERM BORROWINGS

Schedule of short-term borrowings

A summary of the carrying value of the Corporation’s short-term borrowings at December 31, 2022 and 2021 is presented below:

(Dollar amounts in thousands)	2022		2021
Federal Funds Purchased	$	3,000	$	3,275
Repurchase Agreements		67,875		90,099
	$	70,875	$	93,374

(Dollar amounts in thousands)	2022			2021
Average amount outstanding	$	84,004		$	99,810
Maximum amount outstanding at a month end		96,728			117,337
Average interest rate during year		1.48	%		0.40	%
Interest rate at year-end		0.27	%		0.08	%

Schedule of collateral pledged to repurchase agreements by remaining maturity

Collateral pledged to repurchase agreements by remaining maturity are as follows:
	December 31, 2022
Repurchase Agreements	Remaining Contractual Maturity of the Agreements
	Overnight						Greater
	and		Up to 30		30 - 90		than 90
(Dollar amounts in thousands)	continuous		days		days		days		Total
Mortgage Backed Securities - Residential and Collateralized Mortgage Obligations	$	63,335	$	—	$	4,175	$	365	$	67,875

	December 31, 2021
Repurchase Agreements	Remaining Contractual Maturity of the Agreements
	Overnight						Greater
	and		Up to 30		30 - 90		than 90
(Dollar amounts in thousands)	continuous		days		days		days		Total
Mortgage Backed Securities - Residential and Collateralized Mortgage Obligations	$	83,576	$	—	$	5,816	$	707	$	90,099