v3.26.1
Short-Term Borrowings and Long-Term Debt
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Short-Term Borrowings and Long-Term Debt Short-Term Borrowings and Long-Term Debt
The Corporation’s short-term borrowings generally consist of federal funds purchased and short-term borrowings extended under agreements with the FHLB or other correspondent banks. The Corporation has four unsecured borrowing facilities with correspondent banks for up to $56 million in total. Federal funds purchased generally represent one-day borrowings. The Corporation had $0 and $0 in Federal funds purchased at March 31, 2026 and December 31, 2025, respectively. The Corporation also has a facility with the Federal Reserve Bank discount window of $4.3 million. This facility is fully secured by investment securities and pledged loans. There were no borrowings under this at March 31, 2026 and December 31, 2025. The Corporation has a revolving line of credit with ACBB of $5 million that is used to fund operating activities of the Corporation and had an outstanding balance of $0 at March 31, 2026.

The following table presents short-term borrowings at the dates indicated:
(dollars in thousands)Maturity
date		Interest
rate		March 31,
2026		December 31,
2025
FHLB Open Repo Plus Weekly6/15/20263.97%$94,999 $89,999 
FHLB Mid-term Repo Fixed7/14/20264.57%15,245 15,245 
ACBB Holding Company Revolving LOC7/24/20267.00%— 1,500 
Total Short-Term Borrowings$110,244 $106,744 

The following table presents long-term borrowings at the dates indicated:
(dollars in thousands)Maturity
date		Interest
rate		March 31,
2026		December 31,
2025
FHLB Mid-term Repo Fixed5/20/20274.70%$10,594 $10,594 
Total Long-Term Borrowings$10,594 $10,594 

The FHLB has also issued $170.1 million of letters of credit to the Corporation for the benefit of the Corporation’s public deposit funds and loan customers. These letters of credit expire throughout the remainder of 2026.
The Corporation has a maximum borrowing capacity with the FHLB of $732.0 million as of March 31, 2026 and $751.5 million as of December 31, 2025. All advances and letters of credit from the FHLB are secured by a blanket lien on non-pledged, mortgage-related loans and securities as part of the Corporation’s borrowing agreement with the FHLB.