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Federal Home Loan Bank Advances and Long-Term Debt
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Federal Home Loan Bank Advances and Long-Term Debt Federal Home Loan Bank Advances and Long-Term Debt
The following table presents details of the Company’s FHLB advances and long-term debt as of September 30, 2025 and December 31, 2024:
September 30, 2025December 31, 2024
($ in thousands)Interest RatesMaturity DatesAmountAmount
Parent company
Junior subordinated debt — floating (1)
 5.85%
12/15/2035$32,239 $32,001 
Bank
FHLB advances (2):
Floating (3)
4.29% — 4.38%
2026$2,000,000 $3,000,000 
Fixed
3.87% — 4.49%
2025 — 20261,000,000 500,000 
Total FHLB advances
$3,000,000 $3,500,000 
(1)As of September 30, 2025, the outstanding junior subordinated debt was issued by MCBI Statutory Trust I and had a stated interest of 3-month CME Term Secured Overnight Financing Rate (“SOFR”) + 1.81%. The contractual interest rates for junior subordinated debt were 5.85% and 6.17% as of September 30, 2025 and December 31, 2024, respectively.
(2)The weighted-average interest rates for FHLB advances were 4.30% and 4.48% as of September 30, 2025 and December 31, 2024, respectively.
(3)Floating interest rates are based on the SOFR plus the established spread.

The Bank’s available borrowing capacity from FHLB advances totaled $11.4 billion as of September 30, 2025. The Bank’s available borrowing capacity from the FHLB is derived from its portfolio of loans that are pledged to the FHLB, reduced by any outstanding FHLB advances. As of September 30, 2025, all advances were secured by real estate loans.