XML 26 R17.htm IDEA: XBRL DOCUMENT v3.24.0.1
Other Borrowings
 6 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Other Borrowings
Note 8: Other Borrowings
Other borrowings include borrowings from the Federal Reserve Bank Discount Window and the Federal Reserve Bank Term Funding Program (BTFP). The Federal Reserve created the BTFP in March 2023 to offer loans of up to one year in length to qualifying financial institutions which pledge collateral, such as U.S. Treasuries, U.S. agency securities, and U.S. agency mortgage-backed securities. The collateral is valued at par and advances under this program do not include any fees or prepayment penalties. At December 31, 2023, we had total borrowings from the Federal Reserve of $34.4 million, consisting of $4.0 million from the discount window at a rate of 5.5% with a maturity of January 2, 2024, $5.0 million from the discount window at a rate of 5.5% with a maturity of January 4, 2024, and $25.4 million from the BTFP at a rate of 4.83% with a maturity of December 28, 2024. The collateral value of loans pledged to the Federal Reserve Discount Window was $23.7 million and the collateral par value of securities pledged to the Federal Reserve BTFP was $25.4 million as of December 31, 2023. At June 30, 2023, we had no borrowings from the Federal Reserve.