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Other Borrowings
3 Months Ended
Mar. 31, 2025
Advance from Federal Home Loan Bank [Abstract]  
Other Borrowings
7.
Other Borrowings

The Company has a line of credit with the FHLB through which advances are drawn. Pursuant to collateral agreements with the FHLB, advances are secured by a blanket-floating lien on first mortgage loans and cash and investments held at FHLB. The unused portion of the line of credit as of March 31, 2025 and December 31, 2024 was approximately $369 million and $364 million, respectively. As of March 31, 2025, the advances had annual maturities and weighted average interest rates as listed below.

 

 

 

 

 

 

Weighted Average

 

 

 

Amount

 

 

Interest Rate

 

2025

 

$

53,500

 

 

 

4.19

%

2026

 

 

8,000

 

 

 

2.17

%

Total

 

$

61,500

 

 

 

3.93

%

 

As of December 31, 2024, the advances had annual maturities and weighted average interest rates as listed below.

 

 

 

 

 

 

Weighted Average

 

 

 

Amount

 

 

Interest Rate

 

2025

 

$

65,500

 

 

 

4.31

%

2026

 

 

8,000

 

 

 

2.17

%

Total

 

$

73,500

 

 

 

4.08

%