Note 10—SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER BORROWED MONEY

Securities sold under agreements to repurchase generally mature within one day to four days from the transaction date. The weighted average interest rate at December 31, 2025 and 2024 was 2.18% and 2.55%, respectively. The maximum month-end balance during 2025 and 2024 was $148.8 million and $107.1 million, respectively. The average outstanding balance during the years ended December 31, 2025 and 2024 amounted to $111.9 million and $77.2 million, respectively, with an average rate paid of 2.42% and 2.83%, respectively. Securities sold under agreements to repurchase are collateralized by U.S. government and agency securities with fair market values exceeding the total balance of the agreement.

At December 31, 2025 and 2024, the Company had unused short-term lines of credit totaling $112.5 million and $87.5 million respectively.