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Other Borrowings
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Other Borrowings Other Borrowings
The following table summarizes the Company’s borrowings as of December 31:

(In thousands)20242023
Overnight FHLB advances$247,000 $477,100 
Term FHLB advances543,247 125,000 
Total other borrowings$790,247 $602,100 
 
The Company, through its subsidiary bank, had available line-of-credit agreements with correspondent banks permitting borrowings to a maximum of approximately $139.0 million at December 31, 2024, and $99.0 million at December 31, 2023. There were no outstanding advances against those lines at December 31, 2024 or December 31, 2023.

Through its subsidiary bank, the Company has a borrowing relationship with the FHLB, which provides secured borrowing capacity, subject to available collateral. As a member of the FHLB, the Company can use certain unencumbered mortgage-related assets and securities to secure borrowings from the FHLB. Established borrowing capacity with the FHLB was $1.5 billion and $1.6 billion at December 31, 2024 and December 31, 2023, respectively. The unused borrowing capacity on established lines with the FHLB was $502.8 million and $642.2 million at December 31, 2024 and December 31, 2023, respectively.

At December 31, 2024, there were $247.0 million in overnight advances and $543.2 million in term advances with the FHLB, with a weighted average rate of 4.52%, compared to $477.1 million in overnight advances and $125.0 million in term advances with a weighted average rate of 5.15%, at December 31, 2023. At December 31, 2024, the term advances with the FHLB includes $398.2 million which matures within one year and $145.0 million which matures in over one year. Maturities of advances due in over one year include $70.0 million in 2026, $50.0 million in 2027 and $25.0 million in 2028.

In addition to amounts presented above, availability of $200 million and $316 million, at December 31, 2024 and 2023, respectively, was utilized to collateralize municipal deposits through several standby letters of credit with the Federal Home Loan Bank.

The Company had no callable FHLB borrowings at December 31, 2024.

The Company has a $25.0 million line of credit with a bank. As of December 31, 2024 and December 31, 2023, there was no outstanding balance on the line. The line matures in June 2025.