Borrowing Arrangements |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Borrowing Arrangements | Borrowing Arrangements As of June 30, 2025, the Company had FHLB advances totaling $50.0 million with a weighted average interest rate of 3.70% and a weighted average remaining term of 2.4 years, compared to $95.0 million with a weighted average interest rate of 4.34% and a weighted average remaining term of 0.2 years as of December 31, 2024. The Company had letters of credit from the FHLB in the amount of $135.0 million and $100.0 million to secure public deposits as of June 30, 2025 and December 31, 2024, respectively. The Company had available borrowing capacity from the following institutions as of June 30, 2025:
The Company has pledged approximately $1.55 billion and $1.41 billion of loans as collateral for these lines of credit as of June 30, 2025 and December 31, 2024, respectively.
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