XML 27 R17.htm IDEA: XBRL DOCUMENT
v3.22.0.1

ADVANCES FROM THE FEDERAL HOME LOAN BANK OF NEW YORK (FHLB) | 12 Months Ended
--- | ---
Dec. 31, 2021
Federal Home Loan Banks [Abstract] |
ADVANCES FROM THE FEDERAL HOME LOAN BANK OF NEW YORK (FHLB) | ADVANCES FROM THE FEDERAL HOME LOAN BANK OF NEW YORK (FHLB) Advances from the FHLB are fixed-rate, term borrowings and amounted to $185.5 million and $329.4 million at December 31, 2021 and 2020, respectively. Each advance is payable at its maturity date with a prepayment penalty if repayment is made prior to the maturity date. The Bank extinguished $111.4 million in FHLB borrowings during the year ended December 31, 2021, incurring a prepayment penalty of $2.2 million. During the year ended December 31, 2020, the Bank extinguished $14.0 million in FHLB borrowings incurring a prepayment penalty of $843 thousand. Advances are secured by investment securities and loans pledged at the FHLB totaling $319.9 million and $423.5 million as of December 31, 2021 and 2020, respectively. Advances mature as follows for the year ended December 31, 2021.
Maturity |  | Rate Range |  | Weighted Average Rate |  | Amount
2022 |  | 0.35% | — | 0.38% |  | 0.36% |  | $ | 109,000 |
2023 |  | 0.70% | — | 1.94% |  | 1.71% |  | 18,000 |
2024 |  | 1.60% | — | 1.94% |  | 1.80% |  | 38,000 |
2025 |  | 1.50% | — | 1.60% |  | 1.58% |  | 20,500 |
|  |  |  |  |  | 0.92% |  | $ | 185,500 |
Advances from the FHLB amounted to $329.4 million at December 31, 2020, with a weighted average fixed rate of 1.49%. See Note 12 for further disclosure around Derivatives activities related to FHLB advances.

X
- Definition The entire disclosure of advances made and reported by Federal Home Loan Bank (FHLBank). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -URI http://asc.fasb.org/topic&trid=2209208 + Details
Name: | us-gaap_FederalHomeLoanBankAdvancesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FederalHomeLoanBanksAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration