BORROWINGS

3 Months Ended

Mar. 31, 2024

BORROWINGS

BORROWINGS

9. BORROWINGS

Borrowings consisted of the following as of March 31, 2024 and December 31, 2023:

(Dollars in thousands)	March 31,		December 31,
	2024		2023
Securities sold under agreements to repurchase	$	17,214	$	12,810
Short-term debt		40,000		40,000
Long-term debt with FHLB		20,000		20,000
	$	77,214	$	72,810

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 March 31, 2024.

(Dollars in thousands)	Scheduled		Weighted Average
Year	Maturities		Interest Rate
2024	$	15,000	2.29	%
2025		5,000	2.41
2026		—	—
2027		—	—
2028		—	—
Thereafter		—	—
	$	20,000	2.32	%