Short-term Borrowings

12 Months Ended

Dec. 31, 2024

Short-term Borrowings [Abstract]

Short-term Borrowings

Note 8—Short-term borrowings

As of December 31, 2024 and 2023, committed lines of credit arrangements totaling $2.1 billion and $2.2 billion, respectively, were available to the Company from the FHLB, FRB, and unaffiliated banks.

The Company is a member of the FHLB of San Francisco and has a committed credit line of $803.2 million, which is secured by $1.0 billion in various real estate loans and investment securities pledged as collateral. Borrowings generally provide for interest at the then current published rate based on the borrowing term. The overnight borrowing rate was 4.59% as of December 31, 2024.

The Company has $1.4 billion in pledged loans with the FRB. As of December 31, 2024, the Company’s overnight borrowing capacity using the primary credit facilities from the Fed account was $1.1 billion. The borrowing rate was 4.50% as of December 31, 2024.

There were no outstanding advances on the above borrowing facilities or from unaffiliated banks as of December 31, 2024 and 2023.