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Note 11 - FHLB Advances | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
FHLB Advances | Note 11. FHLB Advances The subsidiary banks are members of the FHLB. Maturity and interest rate information on advances from the FHLB as of December 31, 2023 and 2022 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023 | ​ | December 31, 2022 |
​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | ​ | Weighted |
​ | ​ | ​ | ​ | ​ | Average | ​ | ​ | ​ | ​ | Average |
​ | ​ | ​ | ​ | ​ | Interest Rate | ​ | ​ | ​ | ​ | Interest Rate |
​ |  | Amount Due |  | at Year-End |  | Amount Due |  | at Year-End |
​ | ​ | (dollars in thousands)
Maturity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ending December 31: |  | ​ |  |  |  |  | ​ |  |  |  | ​
2023 | ​ | $ | — | ​ | — | % | $ | 415,000 | ​ | 4.58 | %
2024 | ​ | ​ | 300,000 | ​ | 5.64 | ​ | ​ | — | ​ | — | ​
2025 | ​ | ​ | — | ​ | — | ​ | ​ | — | ​ | — | ​
2026 | ​ | ​ | 45,000 | ​ | 5.01 | ​ | ​ | — | ​ | — | ​
2027 | ​ | ​ | 45,000 | ​ | 4.82 | ​ | ​ | — | ​ | — | ​
2028 | ​ |  | 45,000 |  | 4.64 | ​ |  | — |  | — | ​
Total FHLB advances | ​ | $ | 435,000 |  | 5.39 | % | $ | 415,000 |  | 4.58 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ Advances are collateralized by loans of $2.1 billion and $1.7 billion as of December 31, 2023 and 2022, respectively, in aggregate. The FHLB applies loan-to-value discounts to the loans pledged as collateral based on the loan type. There were no securities pledged as collateral on advances as of December 31, 2023. Advances were collateralized by securities of $290 thousand as of December 31, 2022 in aggregate. The Company continues to pledge loans under blanket liens to provide off balance sheet liquidity. As of December 31, 2023 and 2022, the subsidiary banks held $24.5 million and $25.6 million, respectively, of FHLB stock, which is included in restricted investment securities on the consolidated balance sheets.

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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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