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Other Borrowings
9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Other Borrowings

8. Other Borrowings

 

On September 29, 2022, the Company borrowed $10.0 million from an unrelated financial institution at a fixed rate of 6.15%. This borrowing matures on September 1, 2027 and requires quarterly principal and interest payments. The borrowing is secured with the stock of the Bank and the proceeds were used to fund part of the acquisition of Freedom Bancshares, Inc.