Short-term Borrowings

3 Months Ended

Mar. 31, 2026

Short-term Borrowings [Abstract]

Short-term borrowings

Note 5—Short-term borrowings

As of March 31, 2026 and December 31, 2025, committed lines of credit arrangements totaling $2.2 billion and $2.1 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 borrowing capacity and a committed credit line of $933.6 million, which is secured by $1.2 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 3.96% as of March 31, 2026.

The Company has $1.4 billion in pledged loans with the FRB. As of March 31, 2026, the Company’s overnight borrowing capacity using the primary credit facilities from the Fed account was $1.1 billion. The borrowing rate was 3.64% as of March 31, 2026.

The Company has an unsecured borrowing capacity from unaffiliated banks of $133.0 million as of March 31, 2026.

There were no outstanding advances on the above borrowing facilities as of March 31, 2026 or December 31, 2025.