Borrowings |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Borrowings | (14) Borrowings.
The table below presents FHLB advances outstanding as follows (dollars in thousands): Schedule of Maturities and Interest Rates on Federal Home Loan Bank and Federal Reserve Bank Advances
FHLB advances were structured as advances with potential calls on a quarterly basis.
FHLB advances were collateralized by a blanket lien requiring the Company to maintain certain first mortgage loans as pledged collateral. At June 30, 2026, the Company had credit availability of $355.5 million. At June 30, 2026, the Company had loans pledged with a carrying value of $688.8 million as collateral for any FHLB advances.
In addition, the Bank has a $58.7 million line of credit with the Federal Reserve Bank, which is secured by debt securities and loans with carrying value of $92.8 million as of June 30, 2026.
At June 30, 2026, the Company also had unsecured lines of credit amounting to $76.5 million with five correspondent banks to purchase federal funds. Disbursements on the lines are subject to the approval of correspondent banks. At June 30, 2026 there were no borrowings under these lines of credit. |
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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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