XML 25 R15.htm IDEA: XBRL DOCUMENT

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER DEBT

9 Months Ended

Sep. 30, 2023

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER DEBT

NOTE 4 - SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER DEBT

Securities sold under agreements to repurchase were $19,366 and $7,221 as of September 30, 2023 and December 31, 2022, respectively, and are secured by mortgage-backed securities and collateralized mortgage obligations.

The Company has an unsecured $25,000 revolving line of credit, which had a $2,000 outstanding balance at September 30, 2023 and no outstanding balance at December 31, 2022, bears interest at the greater of (i) the prime rate, which was 8.50% at September 30, 2023, or (ii) the rate floor of 3.50%, with interest payable quarterly, and matures in March 2024.

Federal Home Loan Bank (FHLB) advances bear interest based on a fixed or variable rate, payable monthly, with all principal due at maturity. The following table presents the scheduled maturities of fixed and variable rate FHLB advances and their weighted average rates, as of September 30, 2023:


Year	Current Weighted Average Rate			Principal Due
Fixed rate advances
2023		5.38	%	$	165,000
2024		4.38	%		10,000
Total FHLB advances				$	175,000