BORROWINGS

9 Months Ended

Sep. 30, 2023

BORROWINGS

BORROWINGS

9. BORROWINGS

Borrowings consisted of the following as of September 30, 2023 and December 31, 2022.

(Dollars in thousands)	September 30,		December 31,
	2023		2022
Securities sold under agreements to repurchase	$	11,638	$	7,585
Overnight advances with FHLB		12,000		28,125
Short-term debt		16,000		20,000
Long-term debt with FHLB		20,000		20,000
	$	59,638	$	75,710

Long-term debt is comprised only of Federal Home Loan Bank (“FHLB”) advances with an original maturity of one year or more. The following table summarizes the scheduled maturities of long-term debt as of September 30, 2023.

(Dollars in thousands)	Scheduled		Weighted Average
Year	Maturities		Interest Rate
2023	$	—	—	%
2024		15,000	2.29
2025		5,000	2.41
2026		—	—
2027		—	—
Thereafter		—	—
	$	20,000	2.32	%