Short-Term Borrowings

9 Months Ended

Sep. 30, 2024

Short-Term Borrowings [Abstract]

Short-Term Borrowings

8. 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)	September 30, 2024		December 31, 2023
Securities sold under repurchase agreements	$	104,959	$	93,651
Other short-term borrowings		100,000		293,000
Total short-term borrowings	$	204,959	$	386,651

See Note 5 for additional information regarding securities pledged as collateral for securities sold under the repurchase agreements.