BORROWINGS |
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| BORROWINGS | BORROWINGS Advances from the FHLB are fixed-rate, term borrowings with remaining maturities ranging from one month to six months. At December 31, 2025, FHLB advances totaled $301.0 million with a weighted average interest rate of 4.10% and at December 31, 2024, FHLB advances totaled $339.5 million with a weighted average interest rate of 4.47%. Each advance is payable at its maturity date with a prepayment penalty if repayment is made prior to the maturity date. Advances are secured by loans pledged at the FHLB totaling $619.2 million and $614.0 million as of December 31, 2025 and 2024, respectively. Advances mature as follows:
(1) The weighted average rate excludes the effect of our derivative contracts. See Note 12 - Derivatives.
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