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LONG-TERM DEBT
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
The following table presents components of the Company’s long-term debt at December 31, 2024, and 2023. There were zero new long term borrowings in 2024 and five in 2023.
 
 AmountWeighted Average rate
2024202320242023
FHLB fixed rate advances maturing:
2025$15,000 $15,000 4.57 %4.57 %
202825,000 25,000 3.98 %3.98 %
Total FHLB Advances$40,000 $40,000 4.20 %4.20 %
Lease obligation included in long term debt
Finance lease liabilities$364 n/a
The following table presents expected future maturities of the Company's finance lease liabilities as of December 31, 2024. The Company assumed a finance lease asset with a fair value of $392 thousand from the Merger.
2025$79 
202680 
202780 
202880 
202980 
Thereafter13 
412 
Less: imputed interest48 
Total finance lease liabilities$364 
The Bank is a member of the FHLB of Pittsburgh and has access to the FHLB program of overnight and term advances. Under terms of a blanket collateral agreement for advances, lines and letters of credit from the FHLB, collateral for all outstanding advances, lines and letters of credit consisted of 1-4 family mortgage loans and other real estate secured loans totaling $1.9 billion at December 31, 2024. The Bank had additional availability of $1.7 billion at the FHLB on December 31, 2024 based on its qualifying collateral, net of short-term borrowings and long-term debt detailed above, deposit letters of credit of $1.0 million and non-deposit letters of credit totaling $609 thousand at December 31, 2024.
The Bank has available unsecured lines of credit, with interest based on the daily Federal Funds rate, with two correspondent banks totaling $20.0 million, at December 31, 2024. There were no borrowings under these lines of credit at December 31, 2024 and 2023.