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Note 9 - Short-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Short-Term Borrowings

December 31,

 

Securities sold

under agreements

to repurchase (a)

 

 

Other short - term

borrowings (b)

 

2020

 

 

 

 

 

 

 

 

Balance

 

$

58,838

 

 

$

—

 

Maximum indebtedness at any month end

 

 

60,377

 

 

 

10,845

 

Daily average indebtedness outstanding

 

 

50,007

 

 

 

1,738

 

Average rate paid for the year

 

 

0.43

%

 

 

1.90

%

Average rate on period-end borrowings

 

 

0.38

 

 

 

0.00

 

 

 

 

 

 

 

 

 

 

2019

 

 

 

 

 

 

 

 

Balance

 

$

44,114

 

 

$

11,817

 

Maximum indebtedness at any month end

 

 

44,114

 

 

 

33,260

 

Daily average indebtedness outstanding

 

 

40,220

 

 

 

16,761

 

Average rate paid for the year

 

 

0.70

%

 

 

2.49

%

Average rate on period-end borrowings

 

 

0.62

 

 

 

1.81

 

 

(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 $69,793,000 and $55,928,000 and a fair value of $71,295,000 and $55,795,000 and at December 31, 2020 and 2019, respectively. These securities are held in safekeeping at the Federal Reserve Bank of Boston.

(b)

Other short-term borrowings include Federal funds purchased and overnight borrowings from the FHLB.