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Federal Home Loan Bank Advances

12 Months Ended

Dec. 31, 2022

Interest-Bearing Deposits [Abstract]

Federal Home Loan Bank Advances

Note 11: Federal Home Loan Bank Advances

The FHLB advances were secured by $206.0 million in mortgage loans at December 31, 2022. Advances consisted of fixed and variable interest rates from 3.32 to 4.53 percent. Fixed rate advances are subject to restrictions or penalties in the event of prepayment. Aggregate annual maturities of FHLB advances at December 31, 2022, were:

($ in thousands)		Debt
2023			60,000
Total		$	60,000

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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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Topic 942
-SubTopic 210
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-Publisher FASB
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