Advances from the Federal Home Loan Bank

3 Months Ended

Mar. 31, 2024

Advances from the Federal Home Loan Bank

Advances from the Federal Home Loan Bank

(7)Advances from the Federal Home Loan Bank

Federal Home Loan Bank advances are secured by a blanket pledge on the Bank’s assets not otherwise pledged. At March 31, 2024 and December 31, 2023, our credit limit with the FHLB of Des Moines was equal to 45% of Territorial Savings Bank’s total assets and we had the capacity to borrow an additional $613.1 million and $612.6 million, respectively.

Advances outstanding consisted of the following:

	March 31, 2024				December 31, 2023
			Weighted				Weighted
			Average				Average
(Dollars in thousands)	Amount		Rate		Amount		Rate
Due within one year	$	82,000	1.40	%	$	82,000	1.40	%
Due over 1 year to 2 years		45,000	2.87			45,000	2.87
Due over 2 years to 3 years		40,000	3.70			20,000	3.20
Due over 3 years to 4 years		35,000	4.22			30,000	4.24
Due over 4 years to 5 years		40,000	4.41			60,000	4.32
Due over 5 years to 6 years		—	—			5,000	4.38
Total	$	242,000	2.96	%	$	242,000	2.96	%