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Note 12 - FHLB Borrowings

9 Months Ended

Sep. 30, 2025

Federal Home Loan Bank, Advances [Text Block]

Note 12. FHLB Borrowings

The Company’s FHLB borrowings and weighted average interest rates are summarized below:

	September 30, 2025						December 31, 2024
	Amount			Rate			Amount			Rate
	(dollars in thousands)
By remaining period to maturity:
Less than 1 year	$	807,992			4.33	%	$	660,529			4.51	%
1 year through less than 2 years		-			-			2,050			2.23
2 years through less than 3 years		25,234			4.17			260			2.85
3 years through less than 4 years		-			-			25,000			4.18
4 years through 5 years		-			-			-			-
After 5 years		236			2.96			261			2.96
FHLB borrowings – gross		833,462			4.32	%		688,100			4.49	%
Fair value discount		(19	)					(36	)
Total FHLB borrowings	$	833,443					$	688,064

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, 2025 were primarily collateralized by approximately $3.9 billion of commercial mortgage loans and securities, net of required over collateralization amounts, under a blanket lien arrangement. As of September 30, 2025 the Company had a remaining borrowing capacity of approximately $2.0 billion at FHLB.