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BORROWINGS
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
BORROWINGS BORROWINGS
FHLB advances totaled $12.6 million with a weighted average interest rate of 0.55% as of December 31, 2023 and totaled $160.0 million with a weighted average interest rate of 4.29% as of December 31, 2022. The FHLB advances outstanding as of December 31, 2023 mature between 2024 and 2029.
Borrowings from the FHLB are secured by FHLB stock held by the Company and pledged security in the form of qualifying loans. The loans pledged as of December 31, 2023 and 2022 totaled $1.20 billion and $892.1 million, respectively. As of December 31, 2023 and 2022, loans pledged also served as collateral for credit exposure of $0.4 million and $0.3 million, respectively, associated with the Bank’s participation in the FHLB’s Mortgage Partnership Finance Program.
The Bank also had available borrowings through the discount window of the Federal Reserve Bank of Chicago. Available borrowings are based on the collateral pledged. As of December 31, 2023, debt securities with a carrying value of $9.8 million were pledged, and there was no outstanding balance. As of December 31, 2022, there was no collateral pledged and no outstanding balance.