(in thousands)

Three Months
Ended
March 31, 2024

Year Ended
December 31, 2023

Securities sold under agreements to repurchase:

Outstanding at end of period

$

39,494

$

45,418

Weighted average interest rate at end of period

0.27%

Maximum amount outstanding as of any month end

$

44,415

$

59,777

Average amount outstanding

$

41,422

$

50,498

Approximate weighted average rate during the period

0.27%

0.24%

Bank Term Funding Program, fixed rate of 4.87% at March 31, 2024

$

40,000

$

—

FHLB advances, bearing fixed interest rate of 4.53% at March 31, 2024 and rates ranging from 4.53% to 4.69% at December 31, 2023.

$

40,000

$

80,000

Junior subordinated debt, bearing variable interest rate of 8.34% at March 31, 2024 and 8.39% at December 31, 2023

30,929

Total borrowings outstanding

$

150,423

$

156,347