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Note 8 - FHLB Borrowings | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Federal Home Loan Bank, Advances [Text Block] | Note 8 – FHLB Borrowings The Company’s FHLB borrowings and weighted average interest rates are summarized below:
|  | December 31, 2022 |  |  | December 31, 2021 |
|  | Amount |  |  | Rate |  |  | Amount |  |  | Rate |
|  | (dollars in thousands) |
By remaining period to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Less than 1 year |  | $ | 830,000 |  |  |  | 4.42 | % |  | $ | 390,549 |  |  |  | 0.56 | %
1 year through less than 2 years |  |  | - |  |  |  | - |  |  |  | 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 |  |  | 326 |  |  |  | 2.85 |  |  |  | 2,050 |  |  |  | 2.23 |
After 5 Years |  |  | 326 |  |  |  | 2.96 |  |  |  | 714 |  |  |  | 2.91 |
FHLB borrowings - (before discount) |  |  | 857,702 |  |  |  | 4.32 | % |  |  | 468,313 |  |  |  | 0.73 | %
Fair value discount |  |  | (80 | ) |  |  |  |  |  |  | (120 | ) |  |  |  |
FHLB borrowings (after discount) |  | $ | 857,622 |  |  |  |  |  |  | $ | 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 have fixed rates. The advances as of December 31, 2022 were primarily collateralized by approximately $2.7 billion of commercial mortgage and residential loans, net of required over collateralization amounts, under a blanket lien arrangement. As of December 31, 2022, the Company had remaining borrowing capacity of approximately $498.9 million at the 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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