Note 5 - Borrowings Under Bank Term Funding Program

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Debt Disclosure [Text Block]

NOTE 5. BORROWINGS UNDER BANK TERM FUNDING PROGRAM

On March 12, 2023, the Federal Reserve established the BTFP. The BTFP is a one-year program which provides additional liquidity through borrowings with a term of up to one year secured by the pledging of certain qualifying securities and other assets, valued at par value. At March 31, 2024, and December 31, 2023, outstanding borrowings under the BTFP were $229.0 million and $212.5 million, respectively.