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Securities Sold Under Agreements to Repurchase (Tables)
12 Months Ended
Dec. 31, 2023
Broker-Dealer [Abstract]  
Summary of Securities Pledged as Collateral Under Repurchase Agreements

The following table presents detail regarding the securities pledged as collateral under repurchase agreements as of December 31, 2023 and 2022. All of the repurchase agreements are overnight agreements.

 

 

 

December 31, 2023

 

 

December 31, 2022

 

Securities pledged for repurchase agreements:

 

 

 

 

 

 

U.S. Treasury securities

 

$

 

 

$

25,143

 

Obligations of U.S. government agencies

 

 

 

 

 

 

Total securities pledged

 

$

 

 

$

25,143

 

Gross amount of recognized liabilities for
   repurchase agreements

 

$

 

 

$

25,143

 

Amounts related to agreements not included in
   offsetting disclosures above

 

$

 

 

$

 

Schedule of Securities Sold Under Agreements to Repurchase

Information concerning securities sold under agreements to repurchase was as follows:

 

 

 

2023

 

 

2022

 

 

2021

 

Outstanding balance at year end

 

$

 

 

$

25,143

 

 

$

25,495

 

Average balance during the year

 

 

8,685

 

 

 

24,390

 

 

 

24,390

 

Average interest rate during the year

 

 

0.05

%

 

 

0.05

%

 

 

0.09

%

Maximum month-end balance during the year

 

$

21,658

 

 

$

26,044

 

 

$

34,200

 

Weighted average interest rate at year end

 

 

 

 

 

0.05

%

 

 

0.05

%