v3.26.1
Federal Home Loan Bank Advances and Other Borrowings
12 Months Ended
Dec. 31, 2025
Federal Funds Purchased and Securities Sold under Agreements to Repurchase [Abstract]  
Federal Home Loan Bank Advances and Other Borrowings

NOTE 7. FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS

FHLB of Boston advances consist of the following:

 

 

 

December 31, 2025

 

 

December 31, 2024

 

Maturity

 

Amount

 

 

Weighted
 Average
Rate

 

 

Amount

 

 

Weighted
Average
Rate

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Within 1 year

 

$

240,000

 

 

 

4.34

%

 

$

165,000

 

 

 

4.53

%

Over 1 year to 2 years

 

 

20,000

 

 

 

4.15

 

 

 

140,000

 

 

 

4.53

 

Over 2 years to 3 years

 

 

 

 

 

 

 

 

20,000

 

 

 

4.15

 

Total FHLB advances

 

$

260,000

 

 

 

4.33

%

 

$

325,000

 

 

 

4.50

%

 

The Bank also has an available $500 thousand line-of-credit with the FHLB at an interest rate that adjusts daily. There were no advances outstanding under this line-of-credit at December 31, 2025 and December 31, 2024. All borrowings from the FHLB are secured by a blanket lien on the Company’s residential real estate loans and certain commercial real estate loans in accordance with the FHLB’s policy requirements for qualified collateral.

The Bank also has $25.0 million in available lines-of-credit with correspondent banks. There were no advances outstanding under these lines-of-credit at December 31, 2025 and December 31, 2024.

The Bank has agreements with the Federal Reserve Bank of Boston for borrowings at the discount window and through the borrower-in-custody program. The terms of these agreements call for the pledging of assets as security for all obligations of the Bank under these agreements (See Note 2). At December 31, 2025 and December 31, 2024, there were no borrowings outstanding under either agreement.