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FHLB and Other Borrowed Funds
3 Months Ended
Mar. 31, 2025
Advance from Federal Home Loan Bank [Abstract]  
FHLB and Other Borrowed Funds . FHLB and Other Borrowed Funds
The Company’s FHLB borrowed funds, which are secured by our loan portfolio, were $600.0 million at both March 31, 2025 and December 31, 2024. At both March 31, 2025 and December 31, 2024, $100.0 million and $500.0 million of the outstanding balances were classified as short-term and long-term advances, respectively. The FHLB advances mature from 2025 to 2037 with fixed interest rates ranging from 3.37% to 4.84%. Expected maturities could differ from contractual maturities because FHLB may have the right to call, or the Company may have the right to prepay certain obligations.
Other borrowed funds were $500,000 as of March 31, 2025 and were classified as short-term advances. The Company had $750,000 in other borrowed funds as of December 31, 2024.
Additionally, the Company had $1.33 billion and $1.22 billion at March 31, 2025 and December 31, 2024, respectively, in letters of credit under a FHLB blanket borrowing line of credit, which are used to collateralize public deposits.