Annual report pursuant to Section 13 and 15(d)

Borrowings (Tables)

v3.22.4
Borrowings (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Borrowings The following is a summary of contractual maturities of FHLB advances:

 

 

 

As of December 31,

 

 

 

2022

 

 

2021

 

 

 

Outstanding
Balance

 

 

Weighted
Average
Rate

 

 

Outstanding
Balance

 

 

Weighted
Average
Rate

 

 

 

(dollars in thousands)

 

Overnight advances

 

$

250,000

 

 

 

4.65

%

 

$

—

 

 

 

—

%

Advances due within 12 months

 

 

50,000

 

 

 

0.97

 

 

 

50,000

 

 

 

1.62

 

Advances due over 12 months through 24 months

 

 

37,500

 

 

 

0.40

 

 

 

50,000

 

 

 

0.97

 

Advances due over 24 months through 36 months

 

 

12,500

 

 

 

1.90

 

 

 

37,500

 

 

 

0.40

 

Outstanding advances

 

$

350,000

 

 

 

3.57

%

 

$

137,500

 

 

 

1.05

%

 
Summary of Financial Data Pertaining to Federal Home Loan Bank Advances

The following is financial data pertaining to FHLB advances:

 

 

 

As of December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

(dollars in thousands)

 

Weighted-average interest rate at end of year

 

 

3.57

%

 

 

1.05

%

 

 

1.40

%

Weighted-average interest rate during the year

 

 

1.52

%

 

 

1.17

%

 

 

1.42

%

Average balance of FHLB advances

 

$

148,027

 

 

$

145,277

 

 

$

156,601

 

Maximum amount outstanding at any month-end

 

$

350,000

 

 

$

162,500

 

 

$

300,000