At December 31, 2022, the Association had a maximum borrowing capacity of $9,396,564, of which $4,987,287 was outstanding. Borrowings from the FHLB of Cincinnati are secured by the Association’s investment in the common stock of the FHLB of Cincinnati as well as by a blanket pledge of its mortgage portfolio not otherwise pledged. The Association also has the ability to purchase Fed Funds through arrangements with other institutions. Finally, the ability to borrow from the FRB-Cleveland Discount Window is available to the Association and is secured by a pledge of specific loans in the Association’s mortgage portfolio.


	Borrowing Capacity		Borrowings Available		Borrowings Outstanding
FHLB	$	8,610,263	$	3,784,668	$	4,825,595
FRB Cleveland	156,301		156,301		—
Fed Funds Purchased	630,000		480,000		150,000
Subtotal	$	9,396,564	$	4,420,969	4,975,595
Accrued Interest					11,692
Total Borrowings					$	4,987,287


	Amount		Weighted Average Rate
Maturing in:
12 months or less	$	1,690,000	4.00	%
13 to 24 months	850,000		1.66	%
25 to 36 months	750,000		2.05	%
37 to 48 months	550,737		2.25	%
49 to 60 months	727,675		3.23	%
Over 60 months	407,183		3.27	%
Total Advances	$	4,975,595	2.94	%
Accrued interest	11,692
Total	$	4,987,287

All borrowings have fixed rates during their term ranging up to 240 months. Interest is payable monthly for long-term advances and at maturity for FHLB swap based three-month and overnight advances. The table above reflects the effective maturities and fixed interest rates of the $1,950,000 of short-term FHLB advances that are tied to interest rate swaps discussed in Note 13. DERIVATIVE INSTRUMENTS.