ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB)

3 Months Ended

Mar. 31, 2024

ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB) [Abstract]

ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB)

NOTE 9 – ADVANCES FROM THE FEDERAL HOME LOAN BANK (“FHLB

The following is a summary of the advances from the FHLB as of the indicated dates:

March 31,2024

December 31, 2023

(In thousands)

Long-term

Fixed

-rate advances from the FHLB

(1)

$

500,000

$

500,000

(1)

Weighted-average interest rate of

4.45

% as of each of March 31,2024 and December 31, 2023, respectively.

Advances from the FHLB mature as follows as of the indicated date:

March 31,2024

(In thousands)

Over six months to one year

$

180,000

Over one to five years

(1)

320,000

 Total

$

500,000

(1) Average remaining term to maturity of

2.24

 years.