Borrowed Funds (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Borrowed Funds [Abstract] |
|
| Summary of Short Term Borrowings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands)
|
|
2019
|
|
2018
|
|
Overnight borrowings, weighted average interest rate of 2.70% at December 31, 2018
|
|
$
|
—
|
|
$
|
40,000
|
|
Securities sold under agreements to repurchase:
|
|
|
|
|
|
|
|
Outstanding at end of year
|
|
$
|
48,728
|
|
$
|
37,707
|
|
Weighted average interest rate at year end
|
|
|
0.23%
|
|
|
0.24%
|
|
Maximum amount outstanding as of any month end
|
|
$
|
50,345
|
|
$
|
55,648
|
|
Average amount outstanding
|
|
$
|
39,778
|
|
$
|
44,045
|
|
Approximate weighted average rate during the year
|
|
|
0.28%
|
|
|
0.20%
|
|
| Summary of Long Term Borrowings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands)
|
|
2019
|
|
2018
|
|
FHLB advances, bearing fixed interest rates ranging from 2.17% to 3.34% at December 31, 2019
|
|
$
|
70,000
|
|
$
|
70,000
|
|
Junior subordinated debt, bearing variable interest rate of 4.65% at December 31, 2019
|
|
|
30,929
|
|
|
30,929
|
|
Total long-term debt
|
|
$
|
100,929
|
|
$
|
100,929
|
|
| Contractual Maturities of All Long Term Borrowings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019
|
|
2018
|
|
|
|
Fixed
|
|
Floating
|
|
|
|
|
|
|
|
(in thousands)
|
|
Rate
|
|
Rate
|
|
Total
|
|
Total
|
|
Due in 2020
|
|
$
|
—
|
|
$
|
—
|
|
$
|
—
|
|
$
|
20,000
|
|
Due in 2021
|
|
|
20,000
|
|
|
—
|
|
|
20,000
|
|
|
30,000
|
|
Due in 2022
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
20,000
|
|
Due in 2023
|
|
|
30,000
|
|
|
—
|
|
|
30,000
|
|
|
—
|
|
Due in 2024
|
|
|
20,000
|
|
|
—
|
|
|
20,000
|
|
|
—
|
|
Thereafter
|
|
|
—
|
|
|
30,929
|
|
|
30,929
|
|
|
30,929
|
|
Total long-term debt
|
|
$
|
70,000
|
|
$
|
30,929
|
|
$
|
100,929
|
|
$
|
100,929
|
|
| Schedule of Pledged Collateral on Line of Credit |
|
|
|
|
|
|
|
|
|
|
|
1-4 family mortgage loans
|
|
$
|
154,300
|
|
Commercial loans
|
|
|
31,735
|
|
Multi-family loans
|
|
|
4,434
|
|
Home equity loans
|
|
|
23,278
|
|
|
|
$
|
213,747
|
|