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Short-Term and Other Borrowings | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Short-Term and Other Borrowings | (8) Short-Term and Other Borrowings Short-term borrowings, which consist of federal funds purchased and short-term FHLB advances, are summarized as follows:
|  | March 31, 2025 |  |  | December 31, 2024 |
|  | Short-term Borrowings |  |  | Short-term Borrowings |
Fed Funds Purchased |  | $ | — |  |  | $ | — |
FHLB Advances: |  |  |  |  |  |
Overnight advances |  | $ | 360,000 |  |  | $ | 339,000 |
Interest rate on balance |  |  | 4.42 | % |  |  | 4.4 2 | %
Total Short-term FHLB Advances |  | $ | 360,000 |  |  | $ | 339,000 |
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
|  | Short-term Borrowings |  |  | Short-term Borrowings |
Maximum indebtedness |  | $ | 394,000 |  |  | $ | 394,000 |
Average balance |  |  | 355,589 |  |  |  | 329,120 |
Average rate paid |  |  | 4.42 | % |  |  | 5.44 | %
Average balance during the period represents daily averages. Average rate paid represents interest expense divided by the related average balances. The following table summarizes the Company's subordinated debentures at March 31, 2025 and December 31, 2024.
|  | March 31, 2025 |  |  | December 31, 2024 |
|  | Subordinated Debentures |  |  | Subordinated Debentures |
Subordinated Debentures: |  |  |  |  |  |
First Citizens Statutory Trust II |  | $ | 7,732 |  |  | $ | 7,732 |
First Citizens Statutory Trust III |  |  | 12,887 |  |  |  | 12,887 |
First Citizens Statutory Trust IV |  |  | 5,155 |  |  |  | 5,155 |
Futura TPF Trust I |  |  | 2,578 |  |  |  | 2,578 |
Futura TPF Trust II |  |  | 1,997 |  |  |  | 1,997 |
Long-Term Subordinated Debentures, net of unamortized debt issuance costs |  |  | 73,781 |  |  |  | 73,740 |
Total Subordinated Debentures |  | $ | 104,130 |  |  | $ | 104,089 |
Other borrowings, which consists of secured borrowings from other institutions for the right to participate in the future payments of specific leases originated by the CLF division of Civista, totaled $6,140 and $6,293 at March 31, 2025 and December 31, 2024, respectively. The weighted average rate on these borrowings was 9.58% and 6.72% at March 31, 2025 and December 31, 2024, respectively. The weighted average life was 27 months and 30 months at March 31, 2025 and December 31, 2024, respectively.

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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 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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