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FHLB ADVANCES AND OTHER BORROWINGS

9 Months Ended

Sep. 30, 2025

FHLB ADVANCES AND OTHER BORROWINGS

FHLB ADVANCES AND OTHER BORROWINGS

FHLB ADVANCES AND OTHER BORROWINGS

The following table summarizes our FHLB advances and other borrowings as of September 30, 2025 and December 31, 2024:

(dollars in thousands)			September 30, 2025						December 31, 2024
FHLB advances – fixed rate, fixed term at rates averaging 4.38% and 4.50% at September 30, 2025 and December 31, 2024 - maturing through October 2029			$	188,000					$	133,000
FHLB advances – putable fixed rate at rates averaging 3.69% at both September 30, 2025 and December 31, 2024 – maturing through July 2034 with call provisions through November 2025			125,000						125,000
FHLB advances – Short term fixed rate at rates of 4.20% at September 30, 2025			60,000						—
Total FHLB advances and other borrowings			$	373,000					$	258,000

    The Company’s advances from the FHLB are collateralized by a blanket collateral agreement of qualifying mortgage and home equity line of credit loans and certain commercial real estate loans totaling approximately $2.88 billion and $3.23 billion at September 30, 2025 and December 31, 2024, respectively. Based on this collateral, the Company was eligible to borrow $1.05 billion from the FHLB at September 30, 2025.

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The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances.

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