(dollars in thousands)

December 31, 2023

December 31, 2022

Federal funds purchased

$

-

$

11,378

Overnight repurchase agreements

2,383

4,987

Federal Home Loan Bank advances

9,450

46,100

Total short-term borrowings

$

11,833

$

62,465

Maximum month-end outstanding balance (year-to-date)

$

84,360

$

62,465

Average outstanding balance during the period

$

53,466

$

11,776

Average interest rate (year-to-date)

4.90

%

2.34

%

Average interest rate at end of period

5.65

%

4.58

%