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Federal Home Loan Bank Advances

12 Months Ended

Dec. 31, 2025

Advance from Federal Home Loan Bank [Abstract]

Federal Home Loan Bank Advances

Federal Home Loan Bank Advances

A summary of the outstanding FHLB advances at December 31, 2025 and 2024, is as follows:

(In thousands)						2025						2024
0.00% advance due April 2026						$	629					$	629
0.00% advance due January 2029						680						680
3.70% advance due July 2030						150,000						150,000
2.81% advance due September 2032						500,000						500,000
3.08% advance due September 2032						500,000						500,000
3.10% advance due December 2032						200,000						—
2.95% advance due May 2033						250,000						250,000
3.72% advance due July 2033						150,000						150,000
3.43% advance due January 2034						175,000						175,000
3.19% advance due January 2034						175,000						175,000
3.45% advance due April 2034						250,000						250,000
3.44% advance due April 2034						250,000						250,000
3.33% advance due May 2034						250,000						250,000
3.29% advance due June 2034						250,000						250,000
3.38% advance due June 2034						250,000						250,000
2.84% advance due December 2035						100,000						—
Total FHLB advances						$	3,451,309					$	3,151,309

FHLB advances consist of obligations of the banks and are collateralized by qualifying commercial and residential real estate and home equity loans and certain securities. The banks have arrangements with the FHLB whereby, based on available collateral, they could have borrowed an additional $6.1 billion at December 31, 2025.

FHLB advances are stated at par value of the debt adjusted for unamortized prepayment fees paid at the time of prior restructurings of FHLB advances and unamortized fair value adjustments recorded in connection with advances acquired through acquisitions and debt issuance costs. Unamortized prepayment fees are amortized as an adjustment to interest expense using the effective interest method.

Approximately $3.1 billion of the FHLB advances outstanding at December 31, 2025 currently have varying put or call dates over the next 12 months. At December 31, 2025, the weighted average contractual interest rate on FHLB advances was 3.21%.

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- Definition

The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(13)(3)(a))
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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