Short-Term Borrowings

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Short-Term Borrowings

NOTE 9 - SHORT-TERM BORROWINGS

Short-term borrowings, which consist of federal funds purchased and other short-term borrowings are summarized as follows:

	At December 31, 2021					At December 31, 2020
	Federal Funds Purchased			Short-term Borrowings		Federal Funds Purchased			Short-term Borrowings
Outstanding balance at year end	$	—		$	—	$	—		$	—
Maximum indebtedness during the year		50,000			—		50,000			102,700
Average balance during the year		137			—		228			8,151
Average rate paid during the year		0.73	%		—		0.35	%		1.64	%
Interest rate on year end balance		—			—		—			—

	At December 31, 2019
	Federal Funds Purchased			Short-term Borrowings
Outstanding balance at year end	$	—		$	101,500
Maximum indebtedness during the year		20,000			192,700
Average balance during the year		137			112,088
Average rate paid during the year		2.19	%		2.32	%
Interest rate on year end balance		—			1.63	%

Average balances during the year represent daily averages. Average interest rates represent interest expense divided by the related average balances.

These borrowing transactions can range from overnight to six months in maturity. At December 31, 2021 and 2020, there were no short-term borrowings with outstanding balances. The average maturity was one day at December 31, 2019.