Note 13 - FHLB Borrowings

9 Months Ended

Sep. 30, 2026

Federal Home Loan Bank, Advances [Text Block]

Note 13. FHLB Borrowings

The Company’s FHLB borrowings and weighted average interest rates are summarized below:

	September 30, 2026						December 31, 2025
	Amount			Rate			Amount			Rate
	(dollars in thousands)
By remaining period to maturity:
Less than 1 year	$	1,072,000			4.14	%	$	878,050			3.96	%
1 year through less than 2 years		200			2.85			226			2.85
2 years through less than 3 years		-			-			25,000			4.18
3 years through less than 4 years		-			-			-			-
4 years through 5 years		-			-			-			-
After 5 years		200			2.96			227			2.96
FHLB borrowings – gross		1,072,400			4.14	%		903,503			3.97	%
Fair value discount		(2	)					(14	)
Total FHLB borrowings	$	1,072,398					$	903,489

The FHLB borrowings are secured by pledges of certain collateral including, but not limited to, U.S. government and agency mortgage-backed securities and a blanket assignment of qualifying first lien mortgage loans, consisting of both residential mortgages and commercial real estate loans.

Advances are payable at stated maturity, with a prepayment penalty for fixed rate advances. All FHLB advances bear fixed rates. As of September 30, 2026, the Company’s total borrowing capacity with the FHLB was approximately $3.8 billion, based on collateral pledged under a blanket lien arrangement, consisting primarily of commercial mortgage loans and securities, net of required over-collateralization amounts. Of this capacity, approximately $1.1 billion was used for outstanding advances and approximately $1.3 billion was used for municipal letters of credit issued by the FHLB to secure public deposits. As a result, the Company had remaining borrowing capacity of approximately $1.4 billion with the FHLB as of September 30, 2026.