Borrowings

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Borrowings

(12) Borrowings.

The maturities and interest rates on the Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”) advances were as follows (dollars in thousands)

	Maturity	Interest			September 30,		December 31,
At September 30, 2024:	Year Ending	Rate			2024		2023
FRB	2024		4.89	%	$	—	$	13,600
FHLB	2024		4.96	%		30,000		30,000
FHLB	2024		5.57	%		—		22,000
FHLB	2025		1.01	%		10,000		10,000
					$	40,000	$	75,600

At September 30, 2024, FHLB Advances are structured as advances with potential calls on a quarterly basis.

FHLB advances are collateralized by a blanket lien requiring the Company to maintain certain first mortgage loans as pledged collateral. At September 30, 2024, the Company had remaining credit availability of $185 million. At September 30, 2024, the Company had loans pledged with a carrying value of $226 million as collateral for FHLB advances.