XML 26 R15.htm IDEA: XBRL DOCUMENT v3.26.1

FEDERAL HOME LOAN BANK ADVANCES

3 Months Ended

Mar. 31, 2026

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES

7.FEDERAL HOME LOAN BANK ADVANCES

​

FHLB advances were as follows:

​

​	​	​	​	​	​	​
(in thousands)	​ ​ ​	March 31, 2026		​ ​ ​	December 31, 2025
​	​	​	​	​	​	​
Overnight advances	​	$	210,000	​	$	130,000
Fixed interest rate advances	​		156,500	​		376,000
Total FHLB advances	​	$	366,500	​	$	506,000

​

Each FHLB advance is payable at its maturity date, with a prepayment penalty for fixed rate advances that are paid off earlier than maturity.

​

FHLB advances are collateralized by a blanket pledge of eligible real estate loans. As of March 31, 2026, and December 31, 2025, Republic had available borrowing capacity of $742 million and $646 million from the FHLB. In addition to its borrowing capacity with the FHLB, Republic also had unsecured lines of credit totaling $100 million available through various other financial institutions as of March 31, 2026, and December 31, 2025.

​

Aggregate future principal payments on FHLB advances based on contractual maturity and the weighted-average cost of such advances are detailed below:

​

​	​	​	​	​	​	​
​	​ ​ ​	​ ​ ​	​	​ ​ ​	Weighted
​	​	​	​	​	Average
Year (dollars in thousands)	​	Principal		​	Rate
​	​	​	​	​	​	​
2026		$	340,000		4.08	%
2027		​	20,500	​	1.84	​
2030	​	​	5,000	​	—	​
2031		​	1,000		—	​
Total	​	$	366,500		3.89	%

​

As more fully disclosed in the Footnote titled “Interest Rate Swaps” in this section of the report, the Bank elected to extend $100 million of FHLB advances during the second quarter of 2024 through a third-party. As a result of this swap, the Bank locked in an annualized cost of 4.42% for this $100 million over a five-year term. The total weighted-average cost of all advances, including the impact of any corresponding swaps, is 3.84%.

​

Due to their nature, the Bank considers average balance information more meaningful than period-end balances for its overnight borrowings from the FHLB. Information regarding overnight FHLB advances follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended							​
​	​	March 31,							​
(dollars in thousands)	​ ​ ​	2026			​	2025			​
​	​	​	​	​	​	​	​	​	​
Average outstanding balance during the period		$	67,722		​	$	150,778	​
Weighted average interest rate during the period	​	​	3.71	%	​	​	4.42	%	​
Maximum outstanding at any month end during the period		$	210,000		​	$	428,000	​

​

The following table illustrates real estate loans pledged to collateralize advances and letters of credit with the FHLB:

​

​	​	​	​	​	​	​	​
(in thousands)	​ ​ ​	March 31, 2026		​ ​ ​	December 31, 2025
​	​	​	​	​	​	​	​
First-lien, single family residential real estate	​	$	1,129,136	​	$	1,136,838	​
Home equity lines of credit	​		363,183	​		355,875	​
Multi-family commercial real estate	​		80,911	​		92,167	​
Commercial real estate	​	​	212,538	​	​	260,789	​

​

X

- References

No definition available.

+ Details

Name:	us-gaap_AdvancesFromFederalHomeLoanBanksAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

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
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(13)(3)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 470
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478878/942-470-45-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

+ Details

Name:	us-gaap_FederalHomeLoanBankAdvancesDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration