Federal Home Loan Bank Advances and Other Borrowings |
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| Federal Home Loan Bank Advances and Other Borrowings | Note 7: Federal Home Loan Bank Advances and Other Borrowings Federal Home Loan Bank Advances. The Company has entered into an Advances, Pledge, and Security Agreement with the FHLB whereby specific mortgage loans of the Bank with aggregate principal balances of $1.71 billion and $1.62 billion at September 30, 2026 and December 31, 2025, respectively, were pledged to the FHLB as collateral. FHLB advances are also secured with FHLB stock owned by the Company. Total remaining available capacity under the agreement was $637.8 million and $611.3 million at September 30, 2026 and December 31, 2025, respectively. The following table presents information regarding FHLB advances, by maturity, at September 30, 2026 and December 31, 2025:
Line of Credit. The Company has a Loan and Security Agreement and related revolving note with an unaffiliated financial institution that is secured by 100% of the issued and outstanding stock of the Bank. On September 1, 2026, the Company entered into a fifth amendment to the agreement which extended the maturity date of the Company’s existing line of credit from September 1, 2026 to September 1, 2028 and increased the maximum principal amount from $40.0 million to $50.0 million. As of September 30, 2026 and December 31, 2025, the Company had two outstanding letters of credit totaling $2.7 million and $6.4 million, respectively, under this facility. The note contains customary representations, warranties, and covenants, including certain financial covenants and capital ratio requirements. The Company believes it was in compliance with all covenants as of September 30, 2026 and December 31, 2025. The following table presents information regarding the revolving line of credit at September 30, 2026 and December 31, 2025:
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