Quarterly report pursuant to Section 13 or 15(d)

Borrowings and Subordinated Debentures (Tables)

v3.23.3
Borrowings and Subordinated Debentures (Tables)
9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Borrowings

 

 

September 30, 2023

 

 

December 31, 2022

 

 

 

Outstanding
Balance

 

 

Weighted
Average Rate

 

 

Outstanding
Balance

 

 

Weighted
Average Rate

 

 

 

(dollars in thousands)

 

Overnight advances

 

$

50,000

 

 

 

5.77

%

 

$

250,000

 

 

 

4.65

%

Advances due within 12 months

 

 

37,500

 

 

 

0.40

 

 

 

50,000

 

 

 

0.97

 

Advances due over 12 months through 24 months

 

 

12,500

 

 

 

1.90

 

 

 

37,500

 

 

 

0.40

 

Advances due over 24 months through 36 months

 

 

62,500

 

 

 

4.37

 

 

 

12,500

 

 

 

1.90

 

Outstanding advances

 

$

162,500

 

 

 

3.69

%

 

$

350,000

 

 

 

3.57

%

Summary of Financial Data Pertaining to Federal Home Loan Bank Advances

The following is financial data pertaining to FHLB advances:

 

 

 

September 30, 2023

 

 

December 31, 2022

 

 

 

(dollars in thousands)

 

Weighted-average interest rate at end of period

 

 

3.69

%

 

 

3.57

%

Weighted-average interest rate during the period

 

 

3.27

%

 

 

1.52

%

Average balance of FHLB advances

 

$

194,505

 

 

$

148,027

 

Maximum amount outstanding at any month-end

 

$

450,000

 

 

$

350,000