ADVANCES FROM FEDERAL HOME LOAN BANK |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| ADVANCES FROM FEDERAL HOME LOAN BANK | |
| ADVANCES FROM FEDERAL HOME LOAN BANK | NOTE 11: ADVANCES FROM FEDERAL HOME LOAN BANK At March 31, 2025 and December 31, 2024, there were no outstanding term advances from the Federal Home Loan Bank of Des Moines. At March 31, 2025 and December 31, 2024, there were outstanding overnight borrowings from the Federal Home Loan Bank of Des Moines, which are included in Note 12 below. The Bank has pledged FHLB stock, investment securities and first mortgage loans free of other pledges, liens and encumbrances as collateral for outstanding advances or borrowings. At March 31, 2025, investment securities with carrying values of approximately $295.7 million and loans with carrying values of approximately $2.10 billion were pledged as collateral for FHLB borrowings, which equates to an advance equivalent of $1.53 billion. At December 31, 2024 investment securities with carrying values of approximately $110.4 million and loans with carrying values of approximately $2.12 billion were pledged as collateral for outstanding advances or borrowings, which equates to an advance equivalent of $1.39 billion. The Bank had $1.17 billion remaining available on its line of credit under a borrowing arrangement with the FHLB of Des Moines at March 31, 2025. |