Advances from the Federal Home Loan Bank

6 Months Ended

Jun. 30, 2023

Advance from Federal Home Loan Bank [Abstract]

Advances from the Federal Home Loan Bank

At June 30, 2023 and December 31, 2022, the Company had outstanding advances from the FHLB as follows:


			Outstanding Balance
Year of Maturity	Interest Rate	Interest Rate Type	At June 30, 2023		At December 31, 2022
			(in thousands)

2023	0.61% to 4.84%	Fixed	—		304,821
2024	1.68%	Fixed	—		100,000
2025	1.40% to 3.07%	Fixed	—		451,665
2026	4.25%	Fixed	100,000		—
2027 and after (1)	1.82% to 4.40%	Fixed	670,000		50,000
			$	770,000	$	906,486

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(1)There were no callable advances from the FHLB as of June 30, 2023 and December 31, 2022.

In the first quarter of 2023, the Company realized a pretax gain of $13.2 million on the early repayment of $565 million in advances from the FHLB. In the second quarter of 2023, the Company realized a pretax gain of $13.4 million on the early repayment of $355 million in advances from the FHLB. These early repayments are part of the Company’s asset/liability management strategies.