The Bank had short-term advances from the Federal Home Loan Bank ("FHLB") at December 31, 2022 of $95 million. The interest rate on these borrowings was 4.37% at December 31, 2022. The Bank had no short-term advances from the FHLB at December 31, 2021.

Repurchase agreements are financing arrangements that mature within 89 days and usually overnight. Under the agreements, customers agree to maintain funds on deposit with the Bank and in return acquire an interest in a pool of securities pledged as collateral against the funds. These pledged securities are comprised of debt securities issued by U.S. government sponsored entities and agencies and are held in segregated safekeeping accounts at the Federal Reserve Bank, Farmers Trust or the FHLB. The Bank did not participate in this program in 2022 and exited the program in August of 2021. Accordingly, there were no pledged securities in place at December 31, 2022 or December 31, 2021.

Information concerning securities sold under agreements to repurchase is summarized as follows:


	2021
Average balance during the year	$	2,354
Average interest rate during the year		0.18	%
Maximum month-end balance during the year	$	4,860
Weighted average year-end interest rate		0.00	%
Balance at year-end	$	0

The Bank has access to lines of credit amounting to $35 million at two major domestic banks that are below prime rate. The lines and terms are periodically reviewed by the lending banks and are generally subject to withdrawal at their discretion. There were no borrowings under these lines at December 31, 2022 and 2021.

Farmers has two unsecured revolving lines of credit for $6.5 million. The lines can be renewed annually. The lines have interest rates of prime with floors of 3.5% and 4.5%. There was no outstanding balance on either of these two lines at both December 31, 2022 and 2021, respectively.