Federal Home Loan Bank Advances and Other Borrowings |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Advance from Federal Home Loan Bank [Abstract] | |
| Federal Home Loan Bank Advances and Other Borrowings | Federal Home Loan Bank Advances and Other Borrowings FHLB Advances The Company had an overnight FHLB advance of $30.0 million with an interest rate of 4.65% at March 31, 2025. At December 31, 2024, the Company had no FHLB advances. The Company repaid the advance upon maturity. At March 31, 2025 and December 31, 2024, loans pledged to secure borrowings from the FHLB were $1.11 billion and $977.6 million, respectively. The Company’s investment in capital stock of the FHLB of San Francisco totaled $13.9 million and $13.9 million at March 31, 2025 and December 31, 2024, respectively. The Company had additional borrowing capacity of $735.7 million and $722.4 million from the FHLB as of March 31, 2025 and December 31, 2024, respectively. Federal Reserve Discount Window The Company had $679.0 million of unused borrowing capacity from the Federal Reserve Discount Window, to which the Company pledged loans with a carrying value of $836.5 million with no outstanding borrowings at March 31, 2025. At December 31, 2024, the Company had $586.5 million of unused borrowing capacity from the Federal Reserve Discount Window, to which the Company pledged loans with a carrying value of $724.0 million with no outstanding borrowings. Overnight Federal Funds Lines The Company maintains overnight federal funds lines with correspondent financial institutions. The Company maintained available borrowing capacity of $65.0 million and had no borrowings at March 31, 2025. At December 31, 2024, the Company had an overnight borrowing of $15.0 million with an interest rate of 4.65% and unused borrowing capacity of $50.0 million.
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