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Advances from Federal Home Loan Bank | 12 Months Ended
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Jun. 30, 2024
Advances from Federal Home Loan Bank |
Advances from Federal Home Loan Bank | NOTE 6: Advances from Federal Home Loan Bank Advances from Federal Home Loan Bank are summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Interest | ​ | June 30, |
Maturity | ​ | Rate | ​ | 2024 | ​ | 2023 |
​ | ​ | ​ | ​ | (dollars in thousands) | ​
07/24/23 | ​ | 0.59 | % | $ | — | ​ | $ | 998 | ​
11/15/23 | ​ | 0.57 | % | ​ | — | ​ | ​ | 993 | ​
03/06/24 | ​ | 0.95 | % | ​ | — | ​ | ​ | 3,000 | ​
03/28/24 | ​ | 2.56 | % | ​ | — | ​ | ​ | 8,000 | ​
07/24/24 | ​ | 0.66 | % | ​ | 1,995 | ​ | ​ | 1,966 | ​
08/13/24 | ​ | 1.88 | % | ​ | 3,000 | ​ | ​ | 3,000 | ​
03/06/25 | ​ | 1.01 | % | ​ | 3,000 | ​ | ​ | 3,000 | ​
07/15/25 | ​ | 0.77 | % | ​ | 1,967 | ​ | ​ | 1,939 | ​
04/20/26 | ​ | 4.39 | % | ​ | 5,000 | ​ | ​ | 5,000 | ​
06/22/26 | ​ | 4.55 | % | ​ | 5,000 | ​ | ​ | 5,000 | ​
06/26/26 | ​ | 4.49 | % | ​ | 5,000 | ​ | ​ | 5,000 | ​
07/17/26 | ​ | 4.54 | % | ​ | 5,000 | ​ | ​ | — | ​
07/22/26 | ​ | 1.10 | % | ​ | 1,951 | ​ | ​ | 1,929 | ​
12/14/26 | ​ | 2.65 | % | ​ | 137 | ​ | ​ | 189 | ​
04/12/27 | ​ | 4.04 | % | ​ | 5,000 | ​ | ​ | 5,000 | ​
04/27/27 | ​ | 4.07 | % | ​ | 5,000 | ​ | ​ | 5,000 | ​
05/03/27 | ​ | 3.95 | % | ​ | 5,000 | ​ | ​ | 5,000 | ​
05/12/27 | ​ | 3.86 | % | ​ | 5,000 | ​ | ​ | 5,000 | ​
06/22/27 | ​ | 4.38 | % | ​ | 5,000 | ​ | ​ | 5,000 | ​
06/25/27 | ​ | 4.34 | % | ​ | 5,000 | ​ | ​ | 5,000 | ​
07/19/27 | ​ | 4.37 | % | ​ | 5,000 | ​ | ​ | — | ​
03/23/28 | ​ | 3.85 | % | ​ | 10,000 | ​ | ​ | 10,000 | ​
03/24/28 | ​ | 3.93 | % | ​ | 10,000 | ​ | ​ | 10,000 | ​
06/22/28 | ​ | 4.21 | % | ​ | 5,000 | ​ | ​ | 5,000 | ​
06/26/28 | ​ | 4.18 | % | ​ | 5,000 | ​ | ​ | 5,000 | ​
07/18/28 | ​ | 4.19 | % | ​ | 5,000 | ​ | ​ | — | ​
Overnight | ​ | 5.35 | % | ​ | — | ​ | ​ | 33,500 | ​
​ | ​ | TOTAL | ​ | $ | 102,050 | ​ | $ | 133,514 | ​
Weighted-average rate | ​ | ​ | ​ | ​ | 3.82 | % | ​ | 3.95 | %
​ Of the advances outstanding at June 30, 2024, none are callable by the FHLB prior to maturity. In addition to the above advances, the Bank had additional available credit amounting to $742.5 million and $541.3 million with the FHLB at June 30, 2024 and 2023, respectively. Advances from FHLB of Des Moines are secured by FHLB stock and commercial real estate loans, one- to four-family mortgage loans and multi-family mortgage loans pledged. To secure outstanding advances and the Bank’s line of credit, loans totaling $1.4 billion and $1.1 billion were pledged to the FHLB at June 30, 2024 and 2023, respectively. The principal maturities of FHLB advances at June 30, 2024, are below: ​
​ | ​ | ​ | ​
​ | ​ | June 30, 2024
FHLB Advance Maturities |  | (dollars in thousands)
July 1, 2024 to June 30, 2025 | ​ | $ | 7,995
July 1, 2025 to June 30, 2026 | ​ | ​ | 16,967
July 1, 2026 to June 30, 2027 | ​ | ​ | 37,088
July 1, 2027 to June 30, 2028 | ​ | ​ | 35,000
July 1, 2028 to June 30, 2029 | ​ | ​ | 5,000
TOTAL | ​ | $ | 102,050
​

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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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(13)(3)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 470 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478878/942-470-45-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1 + Details
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