Borrowings (Tables)

12 Months Ended

Dec. 31, 2019

Borrowings

Schedule of Advances from the Federal Home Loan Bank

At December 31, advances from the Federal Home Loan Bank were as follows:

	2019		2018
	(In thousands)
Maturities March 2019 through August 2025, primarily at fixed rates ranging from 4.64% to 6.65%, averaging 5.29%	$	—	$	106
Cash Management Advances maturities from January 2020 to March 2020 at floating rates averaging 1.73%		39,800		––
	$	39,800	$	106

Summary of Information Concerning Securities Sold Under Agreements to Repurchase

Information concerning securities sold under agreements to repurchase is summarized as follows:

	2019			2018
	(Dollars in thousands)
Balance outstanding at year end	$	6,915		$	8,068
Average daily balance during the year	$	9,272		$	12,874
Average interest rate during the year		1.37	%		1.06	%
Maximum month-end balance during the year	$	13,441		$	16,161
Weighted-average interest rate at year end		1.40	%		1.13	%

Schedule of Repurchase Agreements

The following table presents the Company’s repurchase agreements accounted for as secured borrowings:

Remaining Contractual Maturity of the Agreement

	(In thousands)
	Overnight and						Greater than 90
December 31, 2019	Continuous		Up to 30 Days		30‑90 Days		Days		Total
Repurchase Agreements
U.S government agencies	$	6,915	$	––	$	––	$	––	$	6,915
Total	$	6,915	$	—	$	—	$	—	$	6,915

	(In thousands)
	Overnight and						Greater than 90
December 31, 2018	Continuous		Up to 30 Days		30‑90 Days		Days		Total
Repurchase Agreements
U.S government agencies	$	8,068	$	––	$	––	$	––	$	8,068
Total	$	8,068	$	—	$	—	$	—	$	8,068