Note 13 - Short-term Borrowings

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Short-Term Debt [Text Block]

NOTE 13 Short-Term Borrowings

Short-term borrowings at December 31, 2024, 2023, and 2022 consisted of the following:

	Year ended
	December 31,
(dollars in thousands)	2024			2023
Fed funds purchased
Balance as of end of period	$	38,960		$	114,170
Average daily balance		249,180			287,768
Maximum month-end balance		373,350			492,060
Weighted-average rate
During period		4.95	%		5.31	%
End of period		4.71	%		5.51	%
FHLB short-term advances
Balance as of end of period	$	200,000		$	200,000
Average daily balance		200,000			113,973
Maximum month-end balance		200,000			200,000
Weighted-average rate
During period		5.46	%		5.39	%
End of period		4.63	%		5.50	%

The Company had outstanding credit capacity with the FHLB of $1.2 billion and $706.6 million at  December 31, 2024 and 2023, respectively, secured by pledged loans and investment securities. The Company also had $87.0 million of unsecured federal funds agreements with correspondent banks with outstanding balances of $15.0 million at  December 31, 2024 and no outstanding balances at  December 31, 2023. The Company has an unused $20.0 million unsecured line of credit with Bank of North Dakota.