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BORROWINGS (Tables)
3 Months Ended
Mar. 31, 2023
BORROWINGS  
Schedule of short-term borrowings and weighted-average interest rates

(Dollars in thousands)

March 31, 2023

December 31, 2022

 

Average

Average

 

    

Amount

    

Rate

    

Amount

    

Rate

 

    

Federal funds purchased

 

$

%  

$

 

%

 

Securities sold under agreements to repurchase

 

20,734

2.57

%  

 

20,368

 

0.84

%

Federal Discount Window

 

875

3.85

%  

 

 

2.78

%

Federal Home Loan Bank of Pittsburgh

 

158,298

4.97

%  

 

133,050

 

2.82

%

Total

$

179,907

4.69

%  

$

153,418

 

2.21

%

Schedule of short-term borrowings subject to an enforceable master netting arrangement or repurchase agreements

(Dollars in thousands)

    

    

Gross

    

Net Amounts

    

    

    

Amounts

of Liabilities

Offset

Presented

Gross

in the

in the

Amounts of

Consolidated

Consolidated

Cash

Recognized

Balance

Balance

Financial

Collateral

Net

Liabilities

Sheet

Sheet

Instruments

Pledge

Amount

March 31, 2023

 

  

 

  

 

  

 

  

 

  

 

  

Repurchase agreements (a)

$

20,734

$

$

20,734

$

(20,734)

$

$

 

  

 

  

 

  

 

  

 

  

 

  

December 31, 2022

 

  

 

  

 

  

 

  

 

  

 

  

Repurchase agreements (a)

$

20,368

$

$

20,368

$

(20,368)

$

$

(a)As of March 31, 2023 and December 31, 2022, the fair value of securities pledged in connection with repurchase agreements was $26,188,000 and $34,160,000, respectively.
Schedule of the remaining contractual maturity of the master netting arrangement or repurchase agreements

(Dollars in thousands)

Remaining Contractual Maturity of the Agreements

Overnight

Greater

Greater

and

Up to

30 -90

than

Continuous

30 days

Days

90 Days

Total

March 31, 2023:

Repurchase agreements and repurchase-to-maturity transactions:

 

  

 

  

 

  

 

  

 

  

U.S. Treasury and/or agency securities

$

20,734

$

$

$

$

20,734

Total

$

20,734

$

$

$

$

20,734