Short-Term Borrowings

6 Months Ended

Jun. 30, 2024

Short-Term Borrowings [Abstract]

Short-Term Borrowings

7. Short-Term Borrowings

In addition to the liquidity provided by balance sheet cash flows, liquidity must also be supplemented with additional sources such as credit lines from correspondent banks as well as borrowings from the FHLB and the Federal Reserve Bank. Other funding alternatives may also be appropriate from time to time, including wholesale and retail repurchase agreements and brokered CD accounts.

Information related to short-term borrowings is summarized as follows:

(In thousands)	June 30, 2024		December 31, 2023
Federal funds purchased	$	15,000	$	-
Securities sold under repurchase agreements		95,703		93,651
Other short-term borrowings		114,000		293,000
Total short-term borrowings	$	224,703	$	386,651

See Note 4 for additional information regarding securities pledged as collateral for securities sold under the repurchase agreements.