Short-Term Borrowings

6 Months Ended

Jun. 30, 2022

Short-Term Borrowings

Short-Term Borrowings

NOTE 9 Short-Term Borrowings

Short-term borrowings at June 30, 2022 and December 31, 2021 consisted of the following:

	June 30,		December 31,
(dollars in thousands)	2022		2021
Fed funds purchased	$	117,350	$	—
FHLB Short-term advances		125,000		—
Total	$	242,350	$	—

The following table presents information related to short-term borrowings for the three and six months ending June 30, 2022 and 2021:

	Three months ended
	June 30,
(dollars in thousands)	2022			2021
Fed funds purchased
Balance as of end of period	$	117,350		$	—
Average daily balance		81,506			—
Maximum month-end balance		117,350			—
Weighted-average rate
During period		1.18	%		—	%
End of period		1.44	%		—	%
FHLB Short-term advances
Balance as of end of period	$	125,000		$	—
Average daily balance		9,615			—
Maximum month-end balance		125,000			—
Weighted-average rate
During period		1.59	%		—	%
End of period		1.80	%		—	%

	Six months ended
	June 30,
(dollars in thousands)	2022			2021
Fed funds purchased
Balance as of end of period	$	117,350		$	—
Average daily balance		40,978			—
Maximum month-end balance		117,350			—
Weighted-average rate
During period		1.18	%		—	%
End of period		1.44	%		—	%
FHLB Short-term advances
Balance as of end of period	$	125,000		$	—
Average daily balance		4,834			—
Maximum month-end balance		125,000			—
Weighted-average rate
During period		1.59	%		—	%
End of period		1.80	%		—	%