Borrowings |
3 Months Ended |
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Mar. 31, 2026 | |
| Borrowings | |
| Borrowings | Note 7 — Borrowings Our borrowings are primarily from the Discount Window at the Federal Reserve Bank of New York (“FRBNY”). On August 30, 2023, the FRBNY approved the Company’s eligibility to pledge loans under the Borrower-in-Custody program of the FRBNY thereby allowing the Company to borrow from the Discount Window at the FRBNY. At March 31, 2026, borrowings from the FRBNY totaled $20.0 million, bearing an interest rate of 3.75% and maturing in May 2026. At December 31, 2025, borrowings from the FRBNY totaled $70.0 million, bearing an interest rate of 3.75%. At March 31, 2026, the Company had the ability to borrow $866.7 million from the FRBNY, and $8.0 million from Atlantic Community Bankers Bank (“ACBB”). |
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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