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Borrowing Arrangements

9 Months Ended

Sep. 30, 2023

Banking and Thrift, Other Disclosure [Abstract]

Borrowing Arrangements

Borrowing Arrangements

As of September 30, 2023 the Company had no Federal Home Loan Bank (“FHLB”) of San Francisco advances as compared to $46,000,000 at December 31, 2022.

Approximately $575,783,000 in loans and $20,739,000 in securities were pledged under a blanket lien as collateral to the FHLB resulting in borrowing capacity of $340,197,000 as of September 30, 2023.  The Bank’s credit limit varies according to the amount and composition of the investment and loan portfolios pledged as collateral. As of September 30, 2023, and December 31, 2022 the Company had no Federal funds purchased.

The following table reflects the Company’s credit lines, balances outstanding, and pledged collateral at September 30, 2023 and December 31, 2022:

Credit Lines (In thousands)						September 30, 2023						December 31, 2022
Unsecured Credit Lines
Credit limit						$	110,000					$	110,000
Balance outstanding						$	—					$	—
Federal Home Loan Bank
Credit limit						$	340,197					$	319,309
Balance outstanding						$	—					$	46,000
Collateral pledged						$	596,523					$	687,357
Fair value of collateral						$	497,968					$	565,869
Federal Reserve Bank Term Loan Funding Program
Credit limit						$	37,245					$	—
Balance outstanding						$	—					$	—
Collateral pledged						$	54,380					$	—
Fair value of collateral						$	46,281					$	—
Federal Reserve Bank
Credit limit						$	4,242					$	4,702
Balance outstanding						$	—					$	—
Collateral pledged						$	5,073					$	5,508
Fair value of collateral						$	4,306					$	4,893

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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 470
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480876/942-470-45-1

Reference 2: 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//1943274/2147480848/942-470-50-3

Reference 3: 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

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.13(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

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