Borrowings (Tables)

12 Months Ended

Dec. 31, 2023

Borrowings

Schedule of selected information on short-term borrowings

	December 31,
(Dollars in thousands)	2023			2022
Balance outstanding at year end1	$	58,223		$	36,592
Maximum balance at any month end during the year	$	145,579		$	38,051
Average balance for the year	$	96,882		$	35,630
Weighted average rate for the year		3.79	%		0.51	%
Weighted average rate on borrowings at year end		3.00	%		0.97	%
Estimated fair value at year end	$	55,732		$	33,616

1 Consists of $30.71 million of repurchase transactions with customers, which generally mature the day following the day sold and are secured by investment securities, $27.50 million with the FHLB, and $18,000 of overnight fed funds borrowings with correspondent banks at December 31, 2023. Consists of $34.48 million of repurchase transaction with customers and $2.11 million of overnight borrowings with the Federal Reserve Bank at December 31, 2022.