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ADVANCES FROM FEDERAL HOME LOAN BANK
12 Months Ended
Dec. 31, 2025
ADVANCES FROM FEDERAL HOME LOAN BANK

Note 11—ADVANCES FROM FEDERAL HOME LOAN BANK

 

As collateral for its advances, the Company has pledged in the form of blanket liens and eligible loans, in the amount of $27.2 million at December 31, 2025. Securities have been pledged as collateral for advances in the amount of $46.0 million as of December 31, 2025. As collateral for its advances, the Company has pledged in the form of blanket liens, eligible loans, in the amount of $28.9 million at December 31, 2024. Securities have been pledged as collateral for advances in the amount of $53.5 million as of December 31, 2024. Advances are subject to prepayment penalties. The average advances during 2025 and 2024 were zero and $54.8 million, respectively. The average interest rate for 2025 and 2024 was zero and 5.12%, respectively. The maximum outstanding amount at any month end was zero million and $90.0 million for 2025 and 2024, respectively.

During the year ended December 31, 2025, there were no advances that were prepaid. Accordingly, no losses were realized on early extinguishment. During the year ended December 31, 2024, there were $35 million in advances that were prepaid. The loss realized on early extinguishment of these advances was $229 thousand.