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BORROWED FUNDS AND REPURCHASE AGREEMENTS (Tables)
 12 Months Ended
Dec. 31, 2023
BORROWED FUNDS AND REPURCHASE AGREEMENTS [Abstract]  
Borrowed Funds

The following table shows the breakdown of borrowed funds as of December 31, 2023 and 2022 (dollars in thousands):

                     
Weighted average interest rate:
  
2023
  
Balance at
December 31
    
Highest balance at any month-end
    
Average
balance
    
Paid during the
year
    
As of year-
end
  
Securities Sold Under Agreements to Repurchases (a)
  
$
18,043
    
$
18,184
    
$
17,425
      
4.92
%
    
5.10
%
FHLB Advances(b)
    
135,841
      
234,310
      
192,399
      
5.43
%
    
5.68
%
Bank Federal Funds Lines (c)
    
-
      
-
      
-
      
6.53
%
    
0.00
%
FRB BIC Line (d)
    
-
      
-
      
29
      
5.24
%
    
0.00
%
Line of Credit (e)
    
12,572
      
17,500
      
5,880
      
8.48
%
    
8.50
%
FRB Term Funding Program (f)
    
20,000
      
20,000
      
329
      
4.84
%
    
4.84
%
Other Borrowings (g)
    
10,860
      
14,160
      
7,390
      
5.35
%
    
5.33
%
Subordinated Debt (h)
    
18,933
      
18,933
      
14,745
      
5.50
%
    
6.30
%
Notes Payable (i)
    
7,500
      
7,500
      
7,500
      
3.65
%
    
3.65
%
Term Loans (j)
    
98,287
      
117,775
      
80,908
      
2.30
%
    
4.94
%
Total Borrowed Funds
  
$
322,036
    
$
448,362
    
$
326,605
      
4.64
%
    
5.46
%

                     
Weighted average interest rate:
  
2022
  
Balance at
December 31
    
Highest balance at any month-end
    
Average
balance
    
Paid during the
year
    
As of year-
end
  
Securities Sold Under Agreements to Repurchases (a)
  
$
17,776
    
$
17,776
    
$
16,246
      
1.95
%
    
4.13
%
FHLB Advances(b)
    
169,110
      
171,047
      
69,571
      
3.50
%
    
4.45
%
Bank Federal Funds Lines (c)
    
-
      
-
      
3
      
1.99
%
    
0.00
%
FRB BIC Line (d)
    
-
      
-
      
49
      
1.76
%
    
0.00
%
Line of Credit (e)
    
-
      
-
      
-
      
0.00
%
    
0.00
%
FRB Term Funding Program (f)
    
-
      
-
      
-
      
0.00
%
    
0.00
%
Other Secured Borrowings (g)
    
-
      
-
      
-
      
0.00
%
    
0.00
%
Subordinated Debt (h)
    
9,892
      
9,892
      
9,885
      
4.18
%
    
4.18
%
Notes Payable (i)
    
7,500
      
7,500
      
7,500
      
3.63
%
    
3.57
%
Term Loans (j)
    
53,000
      
53,000
      
46,407
      
1.00
%
    
1.00
%
Total Borrowed Funds
  
$
257,278
    
$
259,215
    
$
149,661
      
2.61
%
    
3.66
%
Remaining Contractual Maturity of Repurchase Agreements

 
Remaining Contractual Maturity of the Agreements
  
    Overnight and     Up to    
    Greater than    
 
2023
  
Continuous
    
30 Days
    
30 - 90 Days
    
90 days
    
Total
  
Repurchase Agreements:
                              
U.S. agency securities
  
$
19,490
    
$
-
    
$
-
    
$
-
    
$
19,490
  
Total carrying value of collateral pledged
  
$
19,490
    
$
-
    
$
-
    
$
-
    
$
19,490
  
                                         
Total liability recognized for repurchase agreements
                                  
$
18,043
  

    Remaining Contractual Maturity of the Agreements  
    Overnight and     Up to           Greater than        
2022    Continuous      30 Days      30 - 90 Days      90 days      Total  
Repurchase Agreements:
                                   
U.S. agency securities
   $ 20,371     $
-     $ -     $ -     $ 20,371  
Total carrying value of collateral pledged
   $ 20,371     $
-     $ -     $ -     $ 20,371  
                                         
Total liability recognized for repurchase agreements
                                   $ 17,776  
Federal Home Loan Bank Loans by Branch
         December 31,
    December 31,
  
Interest Rate
  
Maturity
  
2023
    
2022
  
Fixed:
                
  5.73 % January 2, 2024     25,000       -  
  5.64 % February 14, 2024     18,000       -  
  2.46 % March 28, 2024     5,000       5,000  
  1.70 % August 20, 2024     5,000       5,000  
  4.75 % November 11, 2024     5,000       -  
  4.47 % May 12, 2025     10,000       -  
  4.32 % November 12, 2025     5,000       -  
  5.03 % July 7, 2025     25,287       -  
  3.86 %
January 3, 2023
     -       25,000  
  4.57 %
February 14, 2023
     -       18,000  
Total term loans
      
$
98,287
    
$
53,000
  
Maturities of Borrowed Funds

Following are maturities of borrowed funds as of December 31, 2023 (in thousands):

2024
  
$
255,316
  
2025
    
40,287
  
2026
    
-
  
2027
    
-
  
2028
    
-
  
Thereafter
    
26,433
  
Total borrowed funds
  
$
322,036