Note 12 - FHLB Borrowings

3 Months Ended

Mar. 31, 2026

Federal Home Loan Bank, Advances [Text Block]

Note 12. FHLB Borrowings

The Company’s FHLB borrowings and weighted average interest rates are summarized below:

	March 31, 2026						December 31, 2025
	Amount			Rate			Amount			Rate
	(dollars in thousands)
By remaining period to maturity:
Less than 1 year	$	802,050			3.82	%	$	878,050			3.96	%
1 year through less than 2 years		217			2.85			226			2.85
2 years through less than 3 years		25,000			4.18			25,000			4.18
After 5 years		218			2.96			227			2.96
FHLB borrowings – gross		827,485			3.83	%		903,503			3.97	%
Fair value discount		(8	)					(14	)
Total FHLB borrowings	$	827,477					$	903,489

The FHLB borrowings are secured by pledges of certain collateral including, but not limited to, U.S. government and agency mortgage-backed securities and a blanket assignment of qualifying first lien mortgage loans, consisting of both residential mortgages and commercial real estate loans.

Advances are payable at stated maturity, with a prepayment penalty for fixed rate advances. All FHLB advances bear fixed rates. The advances as of March 31, 2026 were primarily collateralized by approximately $3.8 billion of commercial mortgage loans and securities, net of required over collateralization amounts, under a blanket lien arrangement. As of March 31, 2026, the Company had a remaining borrowing capacity of approximately $1.8 billion at FHLB.