Other Long-term Debt

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Other Long-term Debt

Other Long-term Debt

Other long-term debt at December 31 follows:

	2022				2021
	Amount		Weighted Average Contractual Rate		Amount		Weighted Average Contractual Rate
	(dollars in thousands)
Borrowings from FHLB due:
2022					$	712	3.85	%
2023	$	740	3.86	%	739		3.86
2024	769		3.86		769		3.86
2025	799		3.86		799		3.86
2026	830		3.87		830		3.87
2027	863		3.87
Thereafter	861		3.49		1,724		3.68
Total	$	4,862			$	5,573

The weighted average contractual rate reflects the rate due to creditors. The weighted average effective rate of long-term debt is equal to the weighted average contractual rate.

All of First Commonwealth’s Federal Home Loan Bank stock, along with an interest in mortgage loans and residential mortgage backed securities, has been pledged as collateral with the Federal Home Loan Bank of Pittsburgh.

Capital securities included in total long-term debt on the Consolidated Statements of Financial Condition are excluded from the above, but are described in Note 15, “Subordinated Debentures.”