XML 33 R20.htm IDEA: XBRL DOCUMENT v3.22.4
Other Borrowings
12 Months Ended
Dec. 31, 2022
Other Borrowings [Abstract]  
Other Borrowings Note 12. Other Borrowings

The Bank has access to short-term borrowings from the FHLB in the form of a revolving term commitment used to fund the short-term liquidity needs of the Bank. These borrowings reprice on a daily basis and the interest rate fluctuates with short-term market interest rates. The Bank had no short-term borrowings at December 31, 2022 and 2021.

 

The Bank’s maximum borrowing capacity with the FHLB at December 31, 2022 was $405.2 million with $403.7 million available to borrow. This borrowing capacity is secured by a Blanket Pledge Agreement with FHLB on the Bank’s real estate loan portfolio.

The Bank has established credit at the Federal Reserve Discount Window and as of year-end had the ability to borrow approximately $60 million. The Bank also has $56.0 million in unsecured lines of credit at two correspondent banks.