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SHORT-TERM BORROWINGS (Tables)
12 Months Ended
Dec. 31, 2024
SHORT-TERM BORROWINGS  
Schedule of short-term borrowings

A summary of the carrying value of the Corporation’s short-term borrowings at December 31, 2024 and 2023 is presented below:

(Dollar amounts in thousands)

2024

    

2023

Federal Funds Purchased

$

154,250

$

27,300

Repurchase Agreements

 

32,807

 

39,921

$

187,057

$

67,221

(Dollar amounts in thousands)

    

2024

    

2023

 

Average amount outstanding

$

97,112

$

116,993

Maximum amount outstanding at a month end

 

187,057

 

169,816

Average interest rate during year

 

4.41

%  

 

4.59

%

Interest rate at year-end

 

3.90

%  

 

2.76

%

Schedule of collateral pledged to repurchase agreements by remaining maturity

    

December 31, 2024

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

$

24,380

$

552

$

5,150

$

2,725

$

32,807

    

December 31, 2023

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

$

32,319

$

300

$

3,637

$

3,665

$

39,921