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Borrowings and Other Obligations
 12 Months Ended
Dec. 31, 2022
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 $150.0 million at both December 31, 2022 and 2021.  In general, interest rates on these lines approximate the federal funds target rate. There were no overnight borrowings under these credit facilities at December 31, 2022 and 2021.
 
Federal Home Loan Bank Borrowings – As of December 31, 2022 and 2021, the Bank had total lines of credit with the FHLB of $711.6 million and $820.5 million, respectively, based on the eligible collateral of certain loans. FHLB overnight borrowings at December 31, 2022 were $112.0 million at a rate of 4.65%, for a net available line of $599.6 million. There were no overnight borrowings at December 31, 2021. As part of our acquisition of AMRB, we assumed FHLB fixed-rate advances totaling $13.9 million that we early redeemed on August 25, 2021.

In February 2023, we increased our borrowing capacity at the FHLB by pledging certain held-to-maturity securities to Securities-Backed Credit Program, which increased our total FHLB borrowing capacity to $1.0372 billion as of February 28, 2023 from $711.6 million as of December 31, 2022.

Federal Reserve Line of Credit – The Bank has an available line of credit with the FRBSF secured by certain residential loans.  At December 31, 2022 and 2021, the Bank had borrowing capacity under this line totaling $58.7 million and $70.8 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 a 251.5% effective rate in 2021, and included accelerated accretion of the $1.3 million remaining purchase discount due to the early redemption.

Other Obligations - Equipment finance lease liabilities totaling $439 thousand and $419 thousand at December 31, 2022 and 2021, respectively, are included in borrowings and other obligations in the consolidated statements of condition. Refer to Note 12, Commitments and Contingencies, for additional information.

The carrying values, and average balances and rates of borrowings and other obligations as of and for the years ended December 31, 2022, 2021 and 2020 are summarized in the following table.
202220212020
(dollars in thousands)Carrying ValueAverage BalanceAverage RateCarrying ValueAverage BalanceAverage RateCarrying ValueAverage BalanceAverage Rate
FHLB overnight borrowings$112,000 $1,921 4.48 %$— $— — %$— $42 0.75 %
Other obligations (finance leases)$439 $374 0.65 %$419 $250 0.71 %$58 $132 2.62 %
FHLB fixed-rate advances$— $— — %$— $642 1.18 %$— $— — %
Subordinated debenture$— $— — %$— $534 251.54 %

$2,777 $2,741 5.68 %