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Note 9 - Short-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Short-Term Borrowings

December 31,

 

Securities sold

under agreements

to repurchase (a)

 

 

Other short - term

borrowings (b)

 

2021

 

 

 

 

 

 

 

 

Balance

 

$

68,476

 

 

$

—

 

Maximum indebtedness at any month end

 

 

79,257

 

 

 

—

 

Daily average indebtedness outstanding

 

 

71,467

 

 

 

191

 

Average rate paid for the year

 

 

0.36

%

 

 

0.31

%

Average rate on period-end borrowings

 

 

0.34

 

 

 

—

 

 

 

 

 

 

 

 

 

 

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

 

 

 

—

 

 

(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 $89,439,000 and $69,793,000 and a fair value of $89,361,000 and $71,295,000 and at December 31, 2021 and 2020 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.