v3.26.1
Short-Term and Other Borrowings
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Short-Term and Other Borrowings

(8) Short-Term and Other Borrowings

Short-term borrowings, which consist of federal funds purchased and short-term FHLB advances, are summarized as follows:

 

 

 

March 31, 2026

 

 

December 31, 2025

 

 

 

Short-term
Borrowings

 

 

Short-term
Borrowings

 

Fed Funds Purchased

 

$

—

 

 

$

—

 

FHLB Advances:

 

 

 

 

 

 

  Single maturity fixed rate advances

 

$

100,000

 

 

$

100,000

 

  Interest rate on balance

 

 

3.82

%

 

 

3.81

%

  Overnight advances

 

$

—

 

 

$

75,000

 

  Interest rate on balance

 

 

—

 

 

 

3.81

%

Total Short-term FHLB Advances

 

$

100,000

 

 

$

175,000

 

 

The single maturity fixed rate advances consisted of one advance that matures on May 18, 2026.

 

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

 

 

Short-term
Borrowings

 

 

Short-term
Borrowings

 

Maximum indebtedness

 

$

270,500

 

 

$

394,000

 

Rate

 

 

3.71

%

 

 

4.42

%

End of period balance

 

$

100,000

 

 

$

360,000

 

Rate

 

 

3.82

%

 

 

4.42

%

Average balance

 

$

148,656

 

 

$

355,589

 

Rate

 

 

3.77

%

 

 

4.42

%

 

Average balance during the period represents daily averages. Average rate paid represents interest expense divided by the related average balances.

 

The following table summarizes the Company's subordinated debentures at March 31, 2026 and December 31, 2025.

 

 

 

March 31, 2026

 

 

December 31, 2025

 

 

 

Subordinated
Debentures

 

 

Subordinated
Debentures

 

Subordinated Debentures:

 

 

 

 

 

 

First Citizens Statutory Trust II

 

$

7,732

 

 

$

7,732

 

First Citizens Statutory Trust III

 

 

12,887

 

 

 

12,887

 

First Citizens Statutory Trust IV

 

 

5,155

 

 

 

5,155

 

Futura TPF Trust I

 

 

2,578

 

 

 

2,578

 

Futura TPF Trust II

 

 

1,997

 

 

 

1,997

 

Long-Term Subordinated Debentures, net of unamortized debt issuance costs

 

 

73,927

 

 

 

73,885

 

Total Subordinated Debentures

 

$

104,276

 

 

$

104,234

 

 

Other borrowings, which consist of secured borrowings from other institutions for the right to participate in the future payments of specific leases originated by the CLF division of Civista, totaled $3,594 and $4,090 at March 31, 2026 and December 31, 2025, respectively. The weighted average rate on these borrowings was 8.31% and 8.22% at March 31, 2026 and December 31, 2025, respectively. The weighted average life was 22 months and 23 months at March 31, 2026 and December 31, 2025, respectively.