Borrowing Arrangements

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Borrowing Arrangements

Borrowing Arrangements

As of June 30, 2023, the Company had $75.0 million advances from FHLB with a weighted average interest rate of 4.22% and a weighted average remaining term of 1.7 years. The Company has a letter of credit with the FHLB in the amount of $67.0 million to secure a public deposit as of both June 30, 2023 and December 31, 2022.

The Company had available borrowing capacity from the following institutions as of June 30, 2023:

($ in thousands)
FHLB	$	400,543
Federal Reserve Bank	172,316
Pacific Coast Bankers Bank	50,000
Zions Bank	25,000
First Horizon Bank	25,000
Total	$	672,859

The Company has pledged approximately $1.30 billion and $1.24 billion of loans as collateral for these lines of credit as of June 30, 2023 and December 31, 2022, respectively.