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Federal Home Loan Bank Advances and Long-Term Debt
 3 Months Ended
Mar. 31, 2026
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 March 31, 2026 and December 31, 2025:
March 31, 2026December 31, 2025
($ in thousands)Interest RatesMaturity DatesAmountAmount
Parent company
Junior subordinated debt — floating (1)
 5.49%
12/15/2035$32,400 $32,320 
Bank
FHLB advances (2):
Floating (3)
3.78% — 3.88%
2026 — 2027$1,900,000 $2,000,000 
Fixed
3.87% — 3.95%
20261,100,000 750,000 
OvernightN/AN/A— 250,000 
Total FHLB advances
$3,000,000 $3,000,000 
N/A — Not applicable.
(1)As of March 31, 2026, 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 5.49% and 5.53% as of March 31, 2026 and December 31, 2025, respectively. For additional information on the junior subordinated debt, refer to Note 10 - Federal Home Loan Bank Advances and Long-Term Debt in the Company’s 2025 Form 10-K.
(2)The weighted-average interest rates for FHLB advances were 3.87% and 3.94% as of March 31, 2026 and December 31, 2025, respectively.
(3)Floating interest rates are based on the SOFR plus the established spread.
The Bank’s available borrowing capacity from FHLB advances totaled $11.7 billion as of March 31, 2026. 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 and standby letters of credit (“SBLC”). As of March 31, 2026, all advances were secured by real estate loans.