Short-term Borrowings

12 Months Ended

Dec. 31, 2022

Short-Term Debt [Abstract]

Short-term Borrowings

Short-term Borrowings

Short-term borrowings at December 31 were as follows:

	2022						2021						2020
	Ending Balance		Average Balance		Average Rate		Ending Balance		Average Balance		Average Rate		Ending Balance		Average Balance		Average Rate
	(dollars in thousands)
Federal funds purchased	$	—	$	1,553	3.93	%	$	—	$	—	—	%	$	—	$	4,147	1.06	%
Borrowings from FHLB	285,000		41,529		4.24		—		—		—		—		28,252		1.54
Securities sold under agreements to repurchase	87,694		101,752		0.18		138,315		119,801		0.08		117,373		110,235		0.21
Total	$	372,694	$	144,834	1.38		$	138,315	$	119,801	0.08		$	117,373	$	142,634	0.49
Maximum total at any month-end	$	372,694					$	138,315					$	248,471
Weighted average rate at year-end					3.56	%					0.06	%					0.10	%

Interest expense on short-term borrowings for the years ended December 31 is detailed below:

	2022		2021		2020
	(dollars in thousands)
Federal funds purchased	$	61	$	—	$	44
Borrowings from FHLB	1,759		—		434
Securities sold under agreements to repurchase	179		99		226
Total interest on short-term borrowings	$	1,999	$	99	$	704