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Short-Term Borrowings (Tables)
12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Summary of Federal Funds Purchased and Other Short-term Borrowings

Short-term borrowings, which consist of federal funds purchased and other short-term FHLB advances are summarized as follows:

 

 

 

At December 31, 2024

 

 

At December 31, 2023

 

 

 

Federal
Funds
Purchased

 

 

Short-term FHLB Advances

 

 

Federal
Funds
Purchased

 

 

Short-term FHLB Advances

 

Outstanding balance at year end

 

$

 

 

$

339,000

 

 

$

 

 

$

338,000

 

Maximum indebtedness during the year

 

 

50,000

 

 

 

501,500

 

 

 

 

 

 

521,500

 

Average balance during the year

 

 

137

 

 

 

341,692

 

 

 

 

 

 

280,887

 

Average rate paid during the year

 

 

5.27

%

 

 

5.23

%

 

 

 

 

 

5.12

%

Interest rate on year end balance

 

 

 

 

 

4.42

%

 

 

 

 

 

5.41

%