BORROWINGS (Tables)

9 Months Ended

Sep. 30, 2021

BORROWINGS

Schedule of short-term borrowings and weighted-average interest rates

Short-term borrowings and weighted–average interest rates at September 30, 2021 and December 31, 2020 are as follows:

(Dollars in thousands)	September 30, 2021				December 31, 2020
			Average				Average
	Amount		Rate		Amount		Rate
Federal funds purchased	$	—	0.37	%	$	—	0.37	%
Securities sold under agreements to repurchase		29,853	0.34	%		19,494	0.58	%
Federal Discount Window		—	0.37	%		—	0.37	%
Federal Home Loan Bank of Pittsburgh		—	0.34	%		—	1.00	%
Total	$	29,853	0.34	%	$	19,494	0.82	%

Schedule of short-term borrowings subject to an enforceable master netting arrangement or repurchase agreements

The following table presents the short-term borrowings subject to an enforceable master netting arrangement or repurchase agreements as of September 30, 2021 and December 31, 2020.

(Dollars in thousands)			Gross		Net Amounts
			Amounts		of Liabilities
			Offset		Presented
	Gross		in the		in the
	Amounts of		Consolidated		Consolidated				Cash
	Recognized		Balance		Balance		Financial		Collateral		Net
	Liabilities		Sheet		Sheet		Instruments		Pledge		Amount
September 30, 2021
Repurchase agreements (a)	$	29,853	$	—	$	29,853	$	(29,853)	$	—	$	—
December 31, 2020
Repurchase agreements (a)	$	19,494	$	—	$	19,494	$	(19,494)	$	—	$	—

(a) As of September 30, 2021 and December 31, 2020, the fair value of securities pledged in connection with repurchase agreements was $34,552,000 and $23,695,000, respectively.

Schedule of the remaining contractual maturity of the master netting arrangement or repurchase agreements

The following table presents the remaining contractual maturity of the master netting arrangement or repurchase agreements as of September 30, 2021:

(Dollars in thousands)	Remaining Contractual Maturity of the Agreements
	Overnight				Greater		Greater
	and		Up to		30 -90		than
	Continuous		30 days		Days		90 Days		Total
September 30, 2021:
Repurchase agreements and repurchase-to-maturity transactions:
U.S. Treasury and/or agency securities	$	29,853	$	—	$	—	$	—	$	29,853
Total	$	29,853	$	—	$	—	$	—	$	29,853