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Note 7 - Federal Home Loan Bank of Indianapolis Advances

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Federal Home Loan Bank Advances, Disclosure [Text Block]

7.    FEDERAL HOME LOAN BANK OF INDIANAPOLIS ADVANCES

FHLBI bullet advances totaled $320 million at September 30, 2025, and were scheduled to mature at varying dates from October 2025 through June 2030, with fixed rates of interest from 0.82% to 4.50% and averaging 3.22%. FHLBI bullet advances totaled $360 million at December 31, 2024, and were scheduled to mature at varying dates from January 2025 through June 2030, with fixed rates of interest from 0.70% to 4.54% and averaging 3.10%.

Maturities of FHLBI bullet advances as of September 30, 2025 were as follows:

(Dollars in thousands)
2025		$	20,000
2026			80,000
2027			100,000
2028			90,000
2029			10,000
Thereafter			20,000

FHLBI amortizing advances totaled $26.2 million as of September 30, 2025, with an average rate of 2.52% and with final maturities in 2042. FHLBI amortizing advances totaled $27.1 million as of December 31, 2024, with an average rate of 2.52% and with final maturities in 2042. FHLBI amortizing advances are obtained periodically to assist in managing interest rate risk associated with certain longer-term fixed rate commercial loans, with annual principal payments that closely align with the scheduled amortization of the underlying commercial loans.

Scheduled principal payments on FHLBI amortizing advances as of  September 30, 2025 were as follows:

(Dollars in thousands)
2025		$	0
2026			900
2027			938
2028			979
2029			1,022
Thereafter			22,382

Each advance is payable at its maturity date, and is subject to a prepayment fee if paid prior to the maturity date. The advances are collateralized by residential mortgage loans, first mortgage liens on multi-family residential property loans, first mortgage liens on commercial real estate property loans, and substantially all other assets of our bank under a blanket lien arrangement. Our borrowing line of credit as of  September 30, 2025 totaled $1.08 billion, with remaining availability based on collateral of $725 million.

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- Definition

The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances.

+ References

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-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
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-Subparagraph (SX 210.9-03(13)(3)(a))
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-Topic 942
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