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Borrowings and Other Obligations
 6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Borrowings and Other Obligations Borrowings and Other Obligations
 
Federal Funds Purchased – The Bank had unsecured available lines of credit with correspondent banks for overnight borrowings totaling $115.0 million at June 30, 2021 and $135.0 million at December 31, 2020.  In general, interest rates on these lines approximate the federal funds target rate. We had no overnight borrowings under these credit facilities at June 30, 2021 or December 31, 2020.
 
Federal Home Loan Bank Borrowings – As of June 30, 2021 and December 31, 2020, the Bank had available lines of credit with the FHLB totaling $629.9 million and $642.5 million, respectively, based on eligible collateral of certain loans. There were no FHLB overnight borrowings at June 30, 2021 or December 31, 2020.

Federal Reserve Line of Credit – The Bank has an available line of credit with the FRBSF secured by certain residential loans.  At June 30, 2021 and December 31, 2020, the Bank had borrowing capacity under this line totaling $77.6 million and $78.7 million, respectively, and had no outstanding borrowings with the FRBSF.

Subordinated Debenture – As part of an acquisition in 2013, Bancorp assumed a subordinated debenture with a contractual balance of $4.1 million due to NorCal Community Bancorp Trust II (the "Trust"), established for the sole purpose of issuing trust preferred securities. On March 15, 2021, Bancorp redeemed in full the $2.8 million (book value) subordinated debenture due to the Trust, which had an effective interest rate of 6.5% for the first six months of 2020. The higher effective rate for the first six months of 2021 included accelerated accretion of the $1.3 million remaining purchase discount due to the early redemption. Accretion was $17 thousand and $35 thousand for the three and six months ended June 30, 2020, respectively.

Other Obligations – Finance lease liabilities totaling $438 thousand and $58 thousand at June 30, 2021 and December 31, 2020, respectively, are included in borrowings and other obligations in the consolidated statements of condition. See Note 8, Commitments and Contingencies, for additional information.