v3.25.2
Borrowings
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Borrowings Borrowings
Advances from the FHLB
Advances from the FHLB totaled $169,000 at June 30, 2025. There were no outstanding FHLB advances as of December 31, 2024. At June 30, 2025, outstanding advances, which were collateralized by a blanket lien on certain debt securities and loans, had a weighted average rate of 4.75% and a maturity date of July 1, 2025.
Subordinated Debentures and Subordinated Notes
Subordinated debentures and subordinated notes as of June 30, 2025 and December 31, 2024 were as follows:
(Dollars in thousands)June 30, 2025December 31, 2024
Subordinated notes, net of debt issuance costs$124,843 $199,607 
Subordinated debentures, net of discount31,239 31,129 
Total subordinated notes and debentures$156,082 $230,736 
In first quarter 2025, the Company redeemed $75,000 of its 4.75% fixed-to-floating subordinated notes, including accrued interest of $1,526. The notes were redeemable in whole or in part on any interest payment date that occurred after November 15, 2024, subject to the Federal Reserve Bank’s approval in compliance with applicable statutes and regulations.