Borrowings |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Borrowings | Borrowings Advances payable to the FHLB amounted to $1.0 billion and $1.1 billion, respectively, at June 30, 2025 and December 31, 2024. See Note 7 for additional disclosure on derivatives designated as cash flow hedges to hedge the interest rate risk associated with short-term FHLB advances. The Bank pledges certain qualified investment securities and loans as collateral to the FHLB. As of June 30, 2025 and December 31, 2024, the Bank had available borrowing capacity of $987.1 million and $753.0 million, respectively, with the FHLB. In addition, the Bank had access to a $40.0 million unused line of credit with the FHLB at both June 30, 2025 and December 31, 2024. Furthermore, the Bank had standby letters of credit with the FHLB of $66.0 million at both June 30, 2025 and December 31, 2024 to collateralize institutional deposits. The following table presents maturities and weighted average interest rates on FHLB advances outstanding as of June 30, 2025:
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