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Borrowings (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Information Regarding FHLB Advances Outstanding

The following table presents information regarding FHLB advances outstanding as of the date stated.


	September 30, 2023
(Dollars in thousands)	Balance		Origination Date	Stated Interest Rate			Maturity Date
Fixed Rate Credit	$	50,000	3/15/2023		4.07	%	3/15/2027
Fixed Rate Credit		50,000	5/2/2023		3.87	%	5/3/2027
Fixed Rate Credit		50,000	5/4/2023		3.52	%	5/4/2028
Total FHLB borrowings	$	150,000

FRB Borrowings

Advances under the BTFP are up to a one-year term and are priced at the one-year overnight index swap rate plus 10 basis points, which is fixed for the term on the advance date. Advances can be repaid at any time without penalty. As of September 30, 2023, the Company had an immediately available line through the BTFP of $267.0 million, of which the Company had drawn one advance for $65.0 million, maturing May 10, 2024, with a fixed interest rate of 4.74%. As of September 30, 2023, availability through the FRB Discount Window was $277.6 million. As of September 30, 2023 and December 31, 2022, the Company had no outstanding borrowings through the FRB Discount Window.