v3.26.1
Note 11 - Borrowing Arrangements
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Debt Disclosure [Text Block]

NOTE 11 - BORROWING ARRANGEMENTS

 

The Bank has established secured and unsecured lines of credit. The Bank  may borrow funds from time to time on a term or overnight basis from the FHLB, the Federal Reserve Bank of San Francisco (“FRB”) and other financial institutions as indicated below.

 

FHLB Secured Line of Credit and Advances. At June 30, 2026, the Bank had secured borrowing capacity with the FHLB of $1.5 billion collateralized by pledged residential and commercial loans with a carrying value of $2.0 billion. At June 30, 2026, the Bank had no overnight advances, $20.0 million in term advances, and $140.0 million of putable term advances. The weighted average rate of FHLB advances was 3.83% at June 30, 2026. The remaining secured borrowing capacity with the FHLB was $1.4 billion as of June 30, 2026. 

 

The details of the FHLB term advances outstanding at June 30, 2026 are shown in Next Call Date order in the table below:

 

Advance Date

 

Amount

  

Rate

  

Call Structure

 

Next Call Date

 

Final Stated Maturity Date

  

(dollars in thousands)

5/8/2025

 $10,000   3.69% 

N/A

 

N/A

 

5/10/2028

6/23/2025

  10,000   3.64% 

N/A

 

N/A

 

6/23/2028

5/8/2025

  20,000   3.52% 

Quarterly call (1)

 

8/10/2026

 

5/8/2029

6/15/2026

  20,000   3.85% 

One time call (2)

 

9/15/2026

 

6/15/2029

6/15/2026

  20,000   3.88% 

One time call (2)

 

9/17/2026

 

6/17/2030

6/15/2026

  10,000   3.84% 

One time call (3)

 

12/15/2026

 

6/15/2029

6/15/2026

  10,000   3.84% 

One time call (3)

 

12/17/2026

 

6/17/2030

6/15/2026

  20,000   3.94% 

One time call (1)

 

6/15/2027

 

6/15/2029

6/24/2026

  20,000   4.01% 

One time call (1)

 

6/25/2027

 

6/25/2029

6/24/2026

  20,000   3.97% 

One time call (1)

 

6/24/2027

 

6/24/2030

Total

 $160,000   3.83%      
 
( 1)
 Call option by the FHLB after initial one year lock out.
 (2) Call option by the FHLB after initial three month lock out.
 (3) Call option by the FHLB after initial six month lock out.

 

FRB Secured Line of Credit. At June 30, 2026, the Bank had a secured borrowing capacity with the FRB of $69.7 million collateralized by pledged loans with a carrying value of $88.6 million.

 

Federal Funds Arrangements with Commercial Banks. At June 30, 2026, the Bank had established unsecured borrowing lines with other financial institutions totaling $97.0 million.

 

There were no amounts outstanding under any of the other borrowing arrangements above as of June 30, 2026, except the FHLB term advances of $160.0 million.