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Long-term Debt
 12 Months Ended
Dec. 31, 2023
Maturities of Long-Term Debt [Abstract]  
Long-term Debt Long-term Debt
The following table presents a summary of long-term debt as of December 31:
(Dollars in thousands)December 31, 2023December 31, 2022
FHLB fixed rate instruments:
Due January 2024, 1.10%
$10,000 $— 
Due March 2024, 5.60%
25,000 — 
Due February 2026, 4.51%
20,000 — 
Due August 2026, 4.80%
782 1,088 
Due February 2027, 6.71%
24 31 
Total FHLB fixed rate instruments55,806 1,119 
Lease obligations included in long-term debt3,197 3,290 
Total long-term debt$59,003 $4,409 
Mid Penn prepaid no FHLB fixed rate instruments during the year ended December 31, 2023 and made $6.5 million prepayments of FHLB fixed rate instruments during the year ended December 31, 2022.
As a member of the FHLB, the Bank can access a number of credit products which are utilized to provide liquidity. As of December 31, 2023, and 2022, the Bank had long-term debt outstanding in the amount of $59.0 million and $4.4 million, respectively, consisting of FHLB fixed rate instruments, and a finance lease liability.
The FHLB fixed rate instruments are secured under the terms of a blanket collateral agreement with the FHLB consisting of FHLB stock and qualifying Mid Penn loan receivables, principally real estate secured loans. Mid Penn also obtains letters of credit from the FHLB to secure certain public fund deposits of municipality and school district customers who agree to use of the FHLB letters of credit. These FHLB letter of credit commitments totaled $153.5 million and $189.0 million as of December 31, 2023 and 2022, respectively.
During the first quarter of 2019, Mid Penn entered into a lease agreement for one facility under a non-cancelable finance lease, which commenced March 1, 2019 and expires February 28, 2039 and is included in long-term debt on the Consolidated Balance Sheets. See "Note 7 - Leases", for more information related to Mid Penn’s finance lease obligation.
The aggregate principal amounts due on FHLB fixed rate instruments subsequent to December 31, 2023 are as follows:
(In thousands)
2024$35,271 
2025313 
202620,220 
Thereafter2 
$55,806