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Note 9 - Short-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Short-Term Borrowings

December 31,

 

Securities sold
under agreements
to repurchase (a)

 

 

Other short - term
 borrowings (b)

 

2024

 

 

 

 

 

 

Balance

 

$

18,636

 

 

$

35,208

 

Maximum indebtedness at any month end

 

 

55,088

 

 

 

50,000

 

Daily average indebtedness outstanding

 

 

38,455

 

 

 

10,071

 

Average rate paid for the year

 

 

1.83

%

 

 

4.41

%

Average rate on period-end borrowings

 

 

2.46

 

 

 

4.81

 

 

 

 

 

 

 

 

2023

 

 

 

 

 

 

Balance

 

$

44,094

 

 

$

50,000

 

Maximum indebtedness at any month end

 

 

69,343

 

 

 

136,799

 

Daily average indebtedness outstanding

 

 

53,154

 

 

 

55,708

 

Average rate paid for the year

 

 

1.39

%

 

 

4.55

%

Average rate on period-end borrowings

 

 

4.59

 

 

 

4.39

 

 

(a)
Securities sold under agreements to repurchase mature overnight. The repurchase agreements were collateralized by U.S. Government mortgage-backed securities and CMOs with an amortized cost of $30,729,000 and $72,012,000 and a fair value of $26,501,000 and $61,650,000 and at December 31, 2024 and 2023 respectively. These securities are held in safekeeping at the Federal Reserve Bank of Boston.
(b)
Other short-term borrowings include Federal funds purchased, overnight and short term borrowings from the FHLB, and short-term FRB borrowings.