Short-Term Borrowings and Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2023

The following table presents details of the Company’s short-term borrowings as of March 31, 2023. The Company pledged eligible U.S. government agency and U.S. government-sponsored enterprise debt and mortgage-backed securities, and U.S. Treasury securities as collateral for the borrowings under the BTFP. As of March 31, 2023, the face amount of the Company’s pledged securities to the BTFP totaled $4.84 billion with a remaining borrowing capacity of $339.0 million. There were no short-term borrowings as of December 31, 2022.

March 31, 2023

($ in thousands)

Interest Rate

Maturity Date

Amount

Short-term borrowings

4.37%

3/19/2024

4,500,000