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Short-Term Borrowings and Advances from Federal Home Loan Bank
6 Months Ended
Jun. 30, 2022
Short-Term Borrowings and Advances from Federal Home Loan Bank  
Short-Term Borrowings and Advances from Federal Home Loan Bank

11.  Short-Term Borrowings and Advances from Federal Home Loan Bank

Total short-term and Federal Home Loan Bank (FHLB) borrowings and advances consist of the following (in thousands, except percentages):

At June 30, 2022

 

Weighted

 

Type

Maturing

Amount

Average Rate

 

Open Repo Plus

    

Overnight

    

$

    

%

FHLB Advances

 

2022

 

14,263

 

1.83

 

2023

 

15,568

 

1.59

 

2024

 

4,197

 

1.19

Total FHLB advances

 

  

 

34,028

 

1.64

Total short-term and FHLB borrowings

 

  

$

34,028

 

1.64

%

At December 31, 2021

 

Weighted

 

Type

Maturing

Amount

Average Rate

 

Open Repo Plus

    

Overnight

    

$

    

%

FHLB Advances

 

2022

 

22,888

 

1.88

 

2023

 

15,568

 

1.59

 

2024

 

4,197

 

1.19

Total FHLB advances

 

  

 

42,653

 

1.71

Total short-term and FHLB borrowings

 

  

$

42,653

 

1.71

%

The rate on Open Repo Plus advances can change daily, while the rates on the advances are fixed until the maturity of the advance. All FHLB stock along with an interest in certain residential mortgage, commercial real estate, and commercial and industrial loans with an aggregate statutory value equal to the amount of the advances are pledged as collateral to the FHLB of Pittsburgh to support these borrowings.