Federal Home Loan Bank Advances and Other Borrowings |
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| 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:
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. |
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