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FHLB Advances, Other Borrowings and Subordinated Notes and Debentures | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
FHLB Advances, Other Borrowings and Subordinated Notes and Debentures | Note 9 — FHLB Advances, Other Borrowings and Subordinated Notes and Debentures The composition of borrowed funds is shown below. Average balances represent year-to-date averages.
|  | September 30, 2025 |  |  | December 31, 2024 |
|  | Balance |  |  | Weighted Average Balance |  |  | Weighted Average Rate |  |  | Balance |  |  | Weighted Average Balance |  |  | Weighted Average Rate |
|  | (Dollars in Thousands) |
FHLB advances |  | $ | 211,901 |  |  | $ | 265,555 |  |  |  | 3.20 | % |  | $ | 265,350 |  |  | $ | 282,437 |  |  |  | 2.73 | %
Line of credit |  |  | — |  |  |  | 2 |  |  |  | 4.24 |  |  |  | — |  |  |  | 1,229 |  |  |  | 8.03 |
Other borrowings |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | 10 |  |  |  | 10 |  |  |  | — |
Subordinated notes and debentures |  |  | 54,776 |  |  |  | 54,727 |  |  |  | 6.43 |  |  |  | 54,689 |  |  |  | 49,833 |  |  |  | 6.36 |
|  | $ | 266,677 |  |  | $ | 320,289 |  |  |  | 3.75 |  |  | $ | 320,049 |  |  | $ | 333,509 |  |  |  | 3.30 |
A summary of annual maturities of borrowings at September 30, 2025 is as follows:
(In Thousands) |  |  |
Maturities during the year ended December 31, |  |  |
2025 |  | $ | 74,400 |
2026 |  |  | 65,000 |
2027 |  |  | 10,000 |
2028 |  |  | 10,450 |
2029 |  |  | 24,119 |
Thereafter |  |  | 82,708 |
|  | $ | 266,677 |
The Corporation has entered into derivative contracts hedging a portion of the borrowings included above. As of September 30, 2025, the notional amount of derivatives designated as cash flow hedges totaled $48.4 million with a weighted average remaining maturity of 2.37 years and a weighted average rate of 2.52%. As of September 30, 2025 and December 31, 2024, the Corporation was in compliance with its debt covenants under its third-party secured senior line of credit. On February 12, 2025, the credit line was renewed for one additional year with pricing terms of 1-month term SOFR + 2.36% and a maturity date of February 18, 2026.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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