XML 34 R19.htm IDEA: XBRL DOCUMENT
v3.22.4

Short-Term Debt | 12 Months Ended
--- | ---
Dec. 31, 2022
Short-Term Debt [Abstract] |
Short-Term Debt | SHORT-TERM DEBT A summary of the Company's short-term borrowings is as follows (dollars in thousands):
| 2022 | 2021 | 2020
Balance at end of year: |  |  |
Securities sold under agreements to repurchase | $ | 290,964 |  | $ | 312,458 |  | $ | 295,956 |
Avg. outstanding during the year: |  |  |
Federal Home Loan Bank advances | $ | 3 |  | N/A | $ | 151 |
Securities sold under agreements to repurchase | 284,570 |  | $ | 298,413 |  | 253,289 |
Federal Funds purchased | 38 |  | — |  | 16 |
Max. outstanding at any month end: |  |  |
Federal Home Loan Bank advances | N/A | N/A | $ | 9,900 |
Securities sold under agreements to repurchase | $ | 402,368 |  | $ | 330,577 |  | 295,956 |
Federal Funds purchased | — |  | — |  | — |
Weighted-average interest rate: |  |  |
During the year: |  |  |
Federal Home Loan Bank advances | 0.26 | % | N/A | 0.85 | %
Securities sold under agreements to repurchase | 0.78 |  | 0.16 | % | 0.39 |
Federal Funds purchased | 0.25 |  | 1.46 |  | 0.83 |
End of the year: |  |  |
Securities sold under agreements to repurchase | 0.76 | % | 0.16 | % | 0.34 |
Through City National, the Company has approximately 34,400 shares of Federal Home Loan Bank ("FHLB") stock at par value as of December 31, 2022. Purchases of FHLB stock are required based on City National’s maximum borrowing capacity with the FHLB. Additionally, FHLB stock entitles the Company to dividends declared by the FHLB and provides an additional source of short-term and long-term funding in the form of collateralized advances. Financing obtained from the FHLB is based, in part, on the amount of qualifying collateral available, specifically 1-4 family residential mortgages, other residential mortgages, and commercial real estate and other non-residential mortgage loans. Collateral pledged to the FHLB included approximately $1.5 billion at December 31, 2022 and $1.6 billion at December 31, 2021 in investment securities and 1-4 family residential property loans. City National had an additional $2.0 billion and $2.1 billion available from unused portions of lines of credit with the FHLB and other financial institutions at December 31, 2022 and 2021, respectively. Securities sold under agreements to repurchase include interests in government agency and municipal securities. These agreements mature daily at par.

X
- References No definition available. + Details
Name: | us-gaap_ShortTermBorrowingsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_ShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration