| 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:
|
|
|
|
|
|
|
|
|
|
|
June 30, 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 |
|
|
3.78 |
% |
|
|
3.81 |
% |
Overnight advances |
|
$ |
23,500 |
|
|
$ |
75,000 |
|
Interest rate on balance |
|
|
3.77 |
% |
|
|
3.81 |
% |
Total Short-term FHLB Advances |
|
$ |
123,500 |
|
|
$ |
175,000 |
|
The single maturity fixed rate advances consisted of one advance that matures on July 17, 2026.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
|
2026 |
|
|
2025 |
|
|
|
Short-term
Borrowings |
|
|
Short-term
Borrowings |
|
|
|
Short-term
Borrowings |
|
|
Short-term
Borrowings |
|
Maximum indebtedness |
|
$ |
100,000 |
|
|
$ |
465,000 |
|
|
|
$ |
270,500 |
|
|
$ |
465,000 |
|
Rate |
|
|
3.74 |
% |
|
|
4.44 |
% |
|
|
|
3.70 |
% |
|
|
4.44 |
% |
End of period balance |
|
$ |
123,500 |
|
|
$ |
433,500 |
|
|
|
$ |
123,500 |
|
|
$ |
433,500 |
|
Rate |
|
|
4.13 |
% |
|
|
4.42 |
% |
|
|
|
4.13 |
% |
|
|
4.42 |
% |
Average balance |
|
$ |
107,823 |
|
|
$ |
412,545 |
|
|
|
$ |
128,127 |
|
|
$ |
384,224 |
|
Rate |
|
|
3.12 |
% |
|
|
4.42 |
% |
|
|
|
3.44 |
% |
|
|
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 June 30, 2026 and December 31, 2025.
|
|
|
|
|
|
|
|
|
|
|
June 30, 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 |
|
|
73,968 |
|
|
|
73,885 |
|
Total Subordinated Debentures |
|
$ |
104,317 |
|
|
$ |
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 $3,121 and $4,090 at June 30, 2026 and December 31, 2025, respectively. The weighted average rate on these borrowings was 8.45% and 8.22% at June 30, 2026 and December 31, 2025, respectively. The weighted average life was 19 months and 23 months at June 30, 2026 and December 31, 2025, respectively.
|