BORROWING ARRANGEMENTS |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| BORROWING ARRANGEMENTS [Abstract] | |
| BORROWING ARRANGEMENTS | 7. BORROWING ARRANGEMENTS
Subordinated Debt
In December 2018, the Company issued $14.1 million of subordinated notes that have a maturity date of and a weighted average fixed rate of 6.41% for the first seven years. After the fixed rate period, these notes will float at the Wall Street Journal prime rate, with a floor of 4.0% and a ceiling of 7.5%. These notes pay interest quarterly, are unsecured, and may be called by the Company at any time after the remaining maturity is five years or less. Additionally, these notes are intended to qualify for Tier 2 capital treatment, subject to regulatory limitations. As of March 31, 2026 and December 31, 2025, the total amount of subordinated notes outstanding was $14.1 million.
Notes Payable and Other Borrowings
As of March 31, 2026 and December 31, 2025, City Bank had no outstanding advances from the Federal Home Loan Bank of Dallas (“FHLB”) or any short-term borrowings.
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