v3.26.1
Note 8 - Securities Sold Under Agreements to Repurchase
12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block]

8.

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

 

Securities sold under agreements to repurchase totaling $97,855,000 and $22,073,000 at December 31, 2025 and 2024, respectively, are secured by U.S. Government agency securities with a carrying amount of $112,059,000 and $38,461,000 at December 31, 2025 and 2024, respectively.

 

Securities sold under agreements to repurchase are financing arrangements that mature within two years. At maturity, the securities underlying the agreements are returned to the Company. Information concerning securities sold under agreements to repurchase during 2025 and 2024 is summarized as follows:

 

  

2025

  

2024

 

Average daily balance during the year

 $52,923,000  $19,001,000 

Average interest rate during the year

  1.47%  0.19%

Maximum month-end balance during the year

 $103,187,000  $22,073,000 

Weighted average interest rate at year-end

  1.65%  0.19%