Borrowings (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Available Unused Lines of Credit

As of March 31, 2021 and December 31, 2020, the Company’s available unused lines of credit consisted of the following:

Available Lines of Credit	Collateral Requirements	March 31, 2021	December 31, 2020
Correspondent banks	None	$44.8 million	$44.8 million
Federal Reserve (discount window)	Subject to collateral	$1.4 million	$1.6 million
FHLB advances ⁽¹⁾	Subject to collateral	$217.1 million	$225.8 million

(1)

These amounts represent the total remaining credit the Company has from the FHLB, but this credit can only be utilized to the extent that underlying collateral exists. Assets pledged (including loans and investment securities) associated with FHLB advances and letters of credit totaled $59.0 million and $36.1 million as of March 31, 2021 and December 31, 2020, respectively. The Company’s collateral exposure with the FHLB in the form of advances and letters of credit was $40.0 million and $20.0 million as of March 31, 2021 and December 31, 2020, respectively, leaving an excess of collateral of $19.0 million and $16.1 million available to utilize for additional credit as of the respective dates.