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Note 10 - FHLB Borrowings | 9 Months Ended
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Sep. 30, 2022
Notes to Financial Statements |
Federal Home Loan Bank, Advances [Text Block] | Note 10. FHLB Borrowings The Company’s FHLB borrowings and weighted average interest rates are summarized below:
|  | September 30, 2022 |  |  | December 31, 2021 |
|  | Amount |  |  | Rate |  |  | Amount |  |  | Rate |
|  | (dollars in thousands) |
By remaining period to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than 1 year |  | $ | 802,329 |  |  |  | 2.99 | % |  | $ | 390,549 |  |  |  | 0.56 | %
1 year through less than 2 years |  |  | - |  |  |  | n/a |  |  |  | 50,000 |  |  |  | 1.84 | %
2 years through less than 3 years |  |  | 25,000 |  |  |  | 1.00 | % |  |  | - |  |  |  | n/a |
3 years through less than 4 years |  |  | 2,050 |  |  |  | 2.23 | % |  |  | 25,000 |  |  |  | 1.00 | %
4 years through 5 years |  |  | - |  |  |  | n/a |  |  |  | 2,050 |  |  |  | 2.23 | %
After 5 years |  |  | 667 |  |  |  | 2.91 | % |  |  | 714 |  |  |  | 2.91 | %
FHLB borrowings - gross |  |  | 830,046 |  |  |  | 2.93 | % |  |  | 468,313 |  |  |  | 0.73 | %
Fair value discount |  |  | (93 | ) |  |  |  |  |  |  | (120 | ) |  |  |  |
Total FHLB borrowings |  | $ | 829,953 |  |  |  |  |  |  | $ | 468,193 |  |  |  |  |
The FHLB borrowings are secured by pledges of certain collateral including, but not limited to, U.S. government and agency mortgage-backed securities and a blanket assignment of qualifying first lien mortgage loans, consisting of both residential mortgages and commercial real estate loans. Advances are payable at stated maturity, with a prepayment penalty for fixed rate advances. All FHLB advances bear fixed rates. The advances as of September 30, 2022 were primarily collateralized by approximately $1.9 billion of commercial mortgage loans, net of required over collateralization amounts, under a blanket lien arrangement. As of September 30, 2022 the Company had remaining borrowing capacity of approximately $0.6 billion at FHLB.

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- Definition The entire disclosure of advances made and reported by Federal Home Loan Bank (FHLBank). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -URI https://asc.fasb.org/topic&trid=2209208 + Details
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