Short-Term Borrowings

12 Months Ended

Dec. 31, 2022

Short-Term Borrowings

Short-Term Borrowings

NOTE 13 Short-Term Borrowings

Short-term borrowings at December 31, 2022, 2021, and 2020 consisted of the following:

	Year ended
	December 31,
(dollars in thousands)	2022			2021			2020
Fed funds purchased
Balance as of end of period	$	153,080		$	—		$	—
Average daily balance		63,296			3			80
Maximum month-end balance		251,880			—			—
Weighted-average rate
During period		2.46	%		—	%		—	%
End of period		4.26	%		—	%		—	%
FHLB Short-term advances
Balance as of end of period	$	225,000		$	—		$	—
Average daily balance		89,932			—			—
Maximum month-end balance		225,000			—			—
Weighted-average rate
During period		3.10	%		—	%		—	%
End of period		4.31	%		—	%		—	%

The Company had outstanding credit capacity with the FHLB of $531.6 million and $677.4 million at December 31, 2022 and 2021 respectively, secured by pledged loans and investment securities. The Company also had $87.0 million of unsecured federal funds agreements with correspondent banks with no outstanding balances at

December 31, 2022 and 2021. The Company has an unused $15.0 million unsecured line of credit with Bank of North Dakota.