v3.25.2
Note 8 - Deposits and Borrowed Funds
 6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Deposits and Borrowed Funds [Text Block]

Note 8: Deposits and Borrowed Funds

 

The following table provides additional detail regarding deposits.

 

   

Deposits

  
   

At June 30,

    

At December 31,

  
   

2025

    

2024

  
   

(In thousands)

  

Noninterest-bearing

   $ 2,175,841     $ 2,333,389  

Interest-bearing:

                

Transaction

     894,774       953,863  

Savings

     1,603,974       1,642,360  

Time deposits less than $100 thousand

     43,659       47,585  

Time deposits $100 thousand through $250 thousand

     20,877       25,368  

Time deposits more than $250 thousand

     8,410       9,285  

Total deposits

   $ 4,747,535     $ 5,011,850  

 

Demand deposit overdrafts of $612 thousand and $591 thousand were included as loan balances at June 30, 2025 and December 31, 2024, respectively. Interest expense for aggregate time deposits with individual account balances in excess of $100 thousand was $14 thousand and $31 thousand for the three and six months ended June 30, 2025, respectively, and $20 thousand and $41 thousand for the three and six months ended June 30, 2024, respectively.

 

The following table provides additional detail regarding short-term borrowed funds.

 

   

Repurchase Agreements (Sweep)
Accounted for as Secured Borrowings

  
   

Remaining Contractual Maturity of the Agreements

  
   

Overnight and Continuous

  
   

At June 30,

    

At December 31,

  
   

2025

    

2024

  

Repurchase agreements:

   (In thousands)  

Collateral securing borrowings:

                

Agency residential MBS

   $ 19,668     $ 21,284  

Corporate securities

     372,072       412,921  

Total collateral carrying value

   $ 391,740     $ 434,205  

Total short-term borrowed funds

   $ 101,210     $ 120,322  

 

At June 30, 2025, the Company had access to borrowing from the Federal Reserve up to $703,398 thousand based on the collateral pledged at June 30, 2025. The Company had a $60,000 thousand line of credit with a correspondent bank at June 30, 2025. There were no borrowings from the Federal Reserve Bank or correspondent banks at June 30, 2025. At June 30, 2025, the Company’s estimated unpledged collateral qualifying debt securities totaled $1,683,788 thousand.