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Borrowings and Other Obligations
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Borrowings and Other Obligations Borrowings and Other Obligations
Federal Home Loan Bank: The Bank had lines of credit with the FHLB totaling $1.009 billion and $711.6 million as of December 31, 2023 and 2022, respectively, based on the eligible collateral of certain loans and investment securities.

Federal Funds Lines of Credit: The Bank had unsecured lines of credit with correspondent banks for overnight borrowings totaling $135.0 million and $150.0 million as of December 31, 2023 and 2022, respectively.  In general, interest rates on these lines approximate the federal funds target rate.
Federal Reserve Bank: The Bank had a line of credit with the FRBSF secured by certain residential loans totaling $64.0 million and $58.7 million as of December 31, 2023 and 2022, respectively. In addition, under the Federal Reserve’s Bank Term Funding Program ("BTFP") facility, the Bank could borrow an additional $270.2 million based on the par values of pledged investment securities as of December 31, 2023.

Other Obligations: Finance lease liabilities totaling $298 thousand and $439 thousand at December 31, 2023 and 2022, 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, average balances and average rates on borrowings and other obligations as of and for the years ended December 31, 2023, 2022 and 2021 are summarized in the following table.
202320222021
(dollars in thousands)Carrying ValueAverage BalanceAverage RateCarrying ValueAverage BalanceAverage RateCarrying ValueAverage BalanceAverage Rate
FHLB short-term borrowings$— $164,299 5.10 %$112,000 $1,921 4.48 %$— $— — %
FHLB fixed-rate advances— — — %— — — %— 642 1.18 %
Federal funds lines of credit— — — %— — — %— — — %
FRBSF short-term borrowings under the BTFP26,000 56,959 5.30 %— — — %— — — %
Other obligations (finance leases)298 364 1.88 %$439 $374 0.65 %419 250 0.71 %
Total borrowings and other obligations$26,298 $221,623 5.15 %$112,439 $2,295 3.90 %$419 $892 1.08 %
Subordinated Debenture: As part of an acquisition, 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.