BORROWINGS (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Schedule of Federal Funds Purchased and Retail Repurchase Agreements |
Federal funds purchased and retail repurchase agreements as of March 31, 2026, and December 31, 2025, are listed below.
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|
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March 31,
2026 |
|
|
December 31,
2025 |
|
Federal funds purchased |
|
$ |
— |
|
|
$ |
— |
|
Retail repurchase agreements |
|
|
39,009 |
|
|
|
39,864 |
|
|
| Schedule of Borrowing Usage and Interest Rate Information for Federal Funds Purchased and Retail Repurchase Agreements |
The following table presents the borrowing usage and interest rate information for federal funds purchased and retail repurchase agreements at March 31, 2026, and December 31, 2025.
|
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|
|
|
|
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|
March 31,
2026 |
|
|
December 31,
2025 |
|
Average daily balance during the period |
|
$ |
44,412 |
|
|
$ |
41,479 |
|
Average interest rate during the period |
|
|
1.45 |
% |
|
|
1.77 |
% |
Maximum month-end balance year-to-date |
|
$ |
41,557 |
|
|
$ |
46,708 |
|
Weighted average interest rate at period-end |
|
|
1.51 |
% |
|
|
1.46 |
% |
|
| Summary of Federal Home Loan Bank Advances |
Federal Home Loan Bank advances as of March 31, 2026, and December 31, 2025, are as follows.
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|
March 31,
2026 |
|
|
Weighted Average Rate |
|
|
December 31,
2025 |
|
|
Weighted Average Rate |
|
Federal Home Loan Bank line of credit advances |
|
$ |
250,250 |
|
|
|
3.83 |
% |
|
$ |
200,000 |
|
|
|
3.89 |
% |
Federal Home Loan Bank fixed-rate term advances |
|
|
97,410 |
|
|
|
3.77 |
% |
|
|
100,000 |
|
|
|
3.84 |
% |
Total Federal Home Loan Bank advances |
|
$ |
347,660 |
|
|
|
3.81 |
% |
|
$ |
300,000 |
|
|
|
3.87 |
% |
|
| Schedule of Subordinated Debt |
Subordinated debt as of March 31, 2026, and December 31, 2025, are listed below.
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|
|
|
|
March 31,
2026 |
|
|
December 31,
2025 |
|
Subordinated debentures |
|
$ |
24,401 |
|
|
$ |
24,308 |
|
Subordinated notes |
|
|
73,862 |
|
|
|
73,837 |
|
Total |
|
$ |
98,263 |
|
|
$ |
98,145 |
|
|
| Schedule of Subordinated Notes |
Subordinated notes as of March 31, 2026, are listed below.
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|
March 31,
2026 |
|
|
Weighted Average Rate |
|
|
Weighted Average Term in Years |
|
Subordinated notes |
|
$ |
75,000 |
|
|
|
7.13 |
% |
|
|
9.3 |
|
Total principal outstanding |
|
|
75,000 |
|
|
|
|
|
|
|
Debt issuance cost |
|
|
(1,138 |
) |
|
|
|
|
|
|
Total subordinated notes |
|
$ |
73,862 |
|
|
|
|
|
|
|
Subordinated notes as of December 31, 2025, are listed below.
|
|
|
|
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|
|
|
|
|
|
December 31,
2025 |
|
|
Weighted Average Rate |
|
|
Weighted Average Term in Years |
|
Subordinated notes |
|
$ |
75,000 |
|
|
|
7.13 |
% |
|
|
9.6 |
|
Total principal outstanding |
|
|
75,000 |
|
|
|
|
|
|
|
Debt issuance cost |
|
|
(1,163 |
) |
|
|
|
|
|
|
Total subordinated notes |
|
$ |
73,837 |
|
|
|
|
|
|
|
|
| Summary of Future Principal Repayments |
Future principal repayments of the March 31, 2026 outstanding balances are as follows.
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|
Retail Repurchase Agreements |
|
|
FHLB Advances |
|
|
Subordinated Debentures |
|
|
Subordinated Notes |
|
|
Total |
|
Due in one year or less |
|
$ |
39,009 |
|
|
$ |
269,650 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
308,659 |
|
Due after one year through two years |
|
|
— |
|
|
|
47,890 |
|
|
|
— |
|
|
|
— |
|
|
|
47,890 |
|
Due after two years through three years |
|
|
— |
|
|
|
12,945 |
|
|
|
— |
|
|
|
— |
|
|
|
12,945 |
|
Due after three years through four years |
|
|
— |
|
|
|
3,985 |
|
|
|
— |
|
|
|
— |
|
|
|
3,985 |
|
Due after four years through five years |
|
|
— |
|
|
|
6,025 |
|
|
|
— |
|
|
|
— |
|
|
|
6,025 |
|
Thereafter |
|
|
— |
|
|
|
7,165 |
|
|
|
28,352 |
|
|
|
75,000 |
|
|
|
110,517 |
|
Total |
|
$ |
39,009 |
|
|
$ |
347,660 |
|
|
$ |
28,352 |
|
|
$ |
75,000 |
|
|
$ |
490,021 |
|
|
| Trust Preferred Securities [Member] |
|
| Schedule of Subordinated Debt |
Subordinated debentures as of March 31, 2026, and December 31, 2025, are listed below.
|
|
|
|
|
|
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|
|
|
|
|
|
March 31,
2026 |
|
|
Weighted Average Rate |
|
|
Weighted Average Term in Years |
|
CTII subordinated debentures |
|
$ |
10,310 |
|
|
|
5.93 |
% |
|
|
9.1 |
|
CTIII subordinated debentures |
|
|
5,155 |
|
|
|
5.82 |
% |
|
|
11.2 |
|
CFSTI subordinated debentures |
|
|
5,155 |
|
|
|
7.22 |
% |
|
|
6.7 |
|
ASBSTI subordinated debentures |
|
|
7,732 |
|
|
|
5.74 |
% |
|
|
9.5 |
|
Total contractual balance |
|
|
28,352 |
|
|
|
|
|
|
|
Fair market value adjustments |
|
|
(3,951 |
) |
|
|
|
|
|
|
Total subordinated debentures |
|
$ |
24,401 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2025 |
|
|
Weighted Average Rate |
|
|
Weighted Average Term in Years |
|
CTII subordinated debentures |
|
$ |
10,310 |
|
|
|
6.17 |
% |
|
9.3 |
|
CTIII subordinated debentures |
|
|
5,155 |
|
|
|
5.87 |
% |
|
|
11.5 |
|
CFSTI subordinated debentures |
|
|
5,155 |
|
|
|
7.20 |
% |
|
|
7.0 |
|
ASBSTI subordinated debentures |
|
|
7,732 |
|
|
|
5.78 |
% |
|
|
9.7 |
|
Total contractual balance |
|
|
28,352 |
|
|
|
|
|
|
|
Fair market value adjustments |
|
|
(4,044 |
) |
|
|
|
|
|
|
Total subordinated debentures |
|
$ |
24,308 |
|
|
|
|
|
|
|
|