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FHLB Advances

12 Months Ended

Dec. 31, 2025

Federal Home Loan Banks [Abstract]

FHLB Advances

FHLB Advances

The Company had outstanding FHLB advances of $249.5 million and $295.0 million as of December 31, 2025 and 2024, respectively. As of December 31, 2025, the stated interest rates on the Company’s outstanding FHLB advances ranged from 0% to 4.16%, with a weighted average interest rate of 3.56%. All advances are collateralized by residential mortgage loans and commercial real estate loans pledged and held by the Company and investment securities pledged by the Company and held in safekeeping with the FHLB. Residential mortgage loans pledged were approximately $322.9 million and $334.3 million as of December 31, 2025 and 2024, respectively, and commercial real estate loans pledged were approximately $115.0 million and $930.7 million as of December 31, 2025 and 2024, respectively. The fair value of investment securities pledged to the FHLB was approximately $835.2 million and $795.0 million as of December 31, 2025 and 2024, respectively. Based on this collateral and the Company’s holding of FHLB stock, the Company is eligible to borrow up to an additional $815.2 million at year-end 2025. As of December 31, 2025, the Company had $150.0 million of putable advance structures with the FHLB in which the FHLB holds a one-time option to put certain advances on a stated exercise date prior to maturity. Among the Company’s putable advance structures, none have passed their one-time exercise date, with the next exercise date occurring in 2027.

The Company’s FHLB advances are shown below by their contractual maturity dates. Actual maturities may differ due to the putable advance structures discussed above.

			Amount
2026			$	10,000
2027			54,500
2028			35,000
2029			—
2030			—
Thereafter			150,000
			$	249,500

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(13)(3)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 470
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478878/942-470-45-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

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- References

No definition available.

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