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SHORT-TERM BORROWINGS
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
SHORT-TERM BORROWINGS SHORT-TERM BORROWINGS
The Company has short-term borrowing capability from the FHLB, federal funds purchased and the FRB discount window. The following table summarizes these short-term borrowings at and for the years ended December 31, 2021, 2020 and 2019. At December 31, 2021, short-term borrowings were zero due to repayments and maturities of overnight borrowings.
202120202019
Balance at year-end$— $55,729 $146,600 
Weighted average interest rate at year-end— %0.41 %1.87 %
Average balance during the year$38,546 $138,310 $23,171 
Average interest rate during the year0.33 %0.67 %2.20 %
Maximum month-end balance during the year$55,729 $178,729 $146,600 
The Company also enters into borrowing arrangements with certain of its deposit clients by agreements to repurchase ("repurchase agreements") under which the Company pledges investment securities owned and under its control as collateral against the borrowing arrangement, which generally matures within one day from the transaction date. The Company is required to hold U.S. Treasury, U.S. Agency or U.S. GSE securities as underlying securities for repurchase agreements. The following table provides additional details for repurchase agreements at and for the years ended December 31, 2021, 2020 and 2019.
202120202019
Balance at year-end$23,301 $19,466 $8,269 
Weighted average interest rate at year-end0.11 %0.23 %1.31 %
Average balance during the year$22,888 $18,064 $8,830 
Average interest rate during the year0.14 %0.47 %1.28 %
Maximum month-end balance during the year$27,595 $24,403 $12,774 
Fair value of securities underlying the agreements at year-end32,662 29,477 13,062