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FHLBNY ADVANCES | 9 Months Ended
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Sep. 30, 2023
FHLBNY ADVANCES |
FHLBNY ADVANCES | 12.FHLBNY ADVANCES The Bank had borrowings from the FHLBNY Advances totaling $1.12 billion and $1.13 billion at September 30, 2023 and December 31, 2022, respectively, all of which were fixed rate. In accordance with its Advances, Collateral Pledge and Security Agreement with the FHLBNY, the Bank was eligible to borrow an additional $4.09 billion as of September 30, 2023 and $4.13 billion as of December 31, 2022, and maintained sufficient qualifying collateral, as defined by the FHLBNY. At September 30, 2023 there were no callable Advances. The Company did not have extinguishment of debt during the three or nine months ended September 30, 2023 or 2022. The following tables present the contractual maturities and weighted average interest rates of FHLBNY advances for each of the next five years. There were no FHLBNY advances with an overnight contractual maturity at September 30, 2023 and December 31, 2022, respectively. As of September 30, 2023, there were $425.0 million of FHLBNY advances with contractual maturities during 2023 and $698.0 million of FHLBNY advances with contractual maturities after 2023. As of December 31, 2022, there were $1.10 billion of FHLBNY advances with contractual maturities during 2023 and $36.0 million of FHLBNY advances with contractual maturities after 2022. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) | ​ | ​ | ​ | ​ | ​ | ​
Contractual Maturity |  | September 30, 2023 | ​ | December 31, 2022
2023, fixed rate at rates from 5.18% to 5.65% | ​ | ​ | 425,000 | ​ | ​ | 1,095,000
2024, fixed rate at rates from 4.85% to 5.16% | ​ | ​ | 650,000 | ​ | ​ | —
2027, fixed rate at 4.25% | ​ | ​ | 36,000 | ​ | ​ | 36,000
2028, fixed rate at 4.04% | ​ | ​ | 12,000 | ​ | ​ | —
Total FHLBNY advances | ​ | $ | 1,123,000 | ​ | $ | 1,131,000
​ Total FHLBNY advances had a weighted average interest rate of 5.11% and 4.55% at September 30, 2023 and December 31, 2022, respectively.

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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 470 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480876/942-470-45-1 Reference 2: 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//1943274/2147480848/942-470-50-3 Reference 3: 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 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 + Details
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