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FEDERAL HOME LOAN BANK ADVANCES | 3 Months Ended
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Jun. 30, 2024
FEDERAL HOME LOAN BANK ADVANCES |
FEDERAL HOME LOAN BANK ADVANCES | 8. FEDERAL HOME LOAN BANK ADVANCES FHLB advances are summarized at the dates indicated (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, 2024 |  | March 31, 2024 |
FHLB advances | ​ | $ | 113,504 | ​ | $ | 88,304 | ​
Weighted average interest rate on FHLB advances (1) | ​ |  | 5.60 | % |  | 5.40 | %
​ (1) Computed based on the borrowing activity for the three months ended June 30, 2024 and the fiscal year ended March 31, 2024, respectively. ​ The Bank has a credit line with the FHLB equal to 45% of total assets, limited by available collateral. At June 30, 2024, based on collateral values, the Bank had additional borrowing capacity of $164.4 million from the FHLB. FHLB advances are collateralized with loans secured by real estate. At June 30, 2024, loans carried at $478.1 million were pledged as collateral to the FHLB.

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- 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 + Details
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