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BORROWINGS (Tables)
6 Months Ended
Jun. 30, 2024
BORROWINGS  
Schedule of Short-term borrowings and weighted-average interest rates

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(Dollars in thousands)

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June 30, 2024

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December 31, 2023

 

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Average

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Average

 

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​

    

Amount

    

Rate

    

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Amount

    

Rate

 

    

Federal funds purchased

 

$

—

​

6.59

%  

​

$

—

 

6.57

%

 

Securities sold under agreements to repurchase

​

 

27,109

​

4.38

%  

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19,708

 

3.28

%

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Federal Discount Window

​

 

—

​

5.51

%  

​

 

1

 

4.99

%

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Federal Home Loan Bank of Pittsburgh

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148,202

​

5.76

%  

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133,759

 

5.45

%

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Total

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$

175,311

​

5.52

%  

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$

153,468

 

5.21

%

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

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(Dollars in thousands)

    

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Gross

    

Net Amounts

    

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Amounts

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of Liabilities

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Offset

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Presented

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Gross

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in the

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in the

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Amounts of

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Consolidated

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Consolidated

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Cash

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Recognized

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Balance

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Balance

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Financial

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Collateral

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Net

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​

Liabilities

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Sheet

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Sheet

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Instruments

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Pledge

​

Amount

June 30, 2024

 

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​

  

 

​

  

 

​

  

 

​

  

 

​

  

Repurchase agreements (a)

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$

27,109

​

$

—

​

$

27,109

​

$

(27,109)

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$

—

​

$

—

​

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

December 31, 2023

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​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

Repurchase agreements (a)

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$

19,708

​

$

—

​

$

19,708

​

$

(19,708)

​

$

—

​

$

—

(a)As of June 30, 2024 and December 31, 2023, the fair value of securities pledged in connection with repurchase agreements was $37,880,000 and $28,902,000, respectively.
Schedule of the remaining contractual maturity of the master netting arrangement or repurchase agreements

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(Dollars in thousands)

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Remaining Contractual Maturity of the Agreements

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Overnight

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Greater

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Greater

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​

​

and

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Up to

​

30 -90

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than

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​

​

​

​

Continuous

​

30 days

​

Days

​

90 Days

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Total

June 30, 2024:

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​

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Repurchase agreements and repurchase-to-maturity transactions:

 

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​

  

 

​

  

 

​

  

 

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U.S. Treasury and/or agency securities

​

$

27,109

​

$

—

​

$

—

​

$

—

​

$

27,109

Total

​

$

27,109

​

$

—

​

$

—

​

$

—

​

$

27,109