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Other Borrowed Funds

12 Months Ended

Dec. 31, 2021

Other Borrowed Funds

(9) Other Borrowed Funds

Other borrowed funds include Federal Home Loan Bank borrowings, which may be short and long-term fixed borrowings issued by the Federal Home Loan Bank of Dallas and the Federal Home Loan Bank of Topeka at the market price offered at the time of funding. These borrowings are secured by mortgage-backed investment securities and a portion of our loan portfolio.

Further information regarding our other borrowed funds at December 31, 2021 and 2020 is set forth in the following table:

​

​	​	​	​	​	​	​	​
​	​	December 31,
​	​	2021		​	2020
​	​	(Dollars in Thousands)
Federal Home Loan Bank advances—short-term		​			​		​
Balance at year end	​	$	—	​	$	—	​
Rate on balance outstanding at year end	​		—	%		—	%
Average daily balance	​	$	—	​	$	110,776	​
Average rate	​		—	%		1.19	%
Maximum amount outstanding at any month end	​	$	—	​	$	292,000	​
Federal Home Loan Bank advances—long-term(1)	​	​	​	​	​	​	​
Balance at year end	​	$	436,138	​	$	436,327	​
Rate on balance outstanding at year end	​		1.73	%		1.73	%
Average daily balance	​	$	436,225	​	$	436,411	​
Average rate	​		1.71	%		1.71	%
Maximum amount outstanding at any month end	​	$	436,311	​	$	436,495	​

​

(1) Long-term advances at December 31, 2021 and December 31, 2020 consisted of both amortizing and non-amortizing advances.  The non-amortizing advances mature in the following increments:  $75,000,000 in July 2028, $100,000,000 in March 2033 and $250,000,000 in August 2033 and are callable by the FHLB on a quarterly basis.  Two amortizing advances are outstanding at December 31, 2021 in the amounts of $3,033,000 and $8,104,000 and mature in December 2033 and November 2033, respectively.  The amortization on the amortizing long-term advances totals approximately $194,000, $199,000, $204,000, $210,000 and $2215,000 for the years ending December 31, 2022, 2023, 2024, 2025 and December 31, 2026, respectively.      

X

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.13(a))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822

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