XML 26 R16.htm IDEA: XBRL DOCUMENT

Note 8 - Deposits and Borrowed Funds

9 Months Ended

Sep. 30, 2023

Deposits and Borrowed Funds [Text Block]

Note 8: Deposits and Borrowed Funds

The following table provides additional detail regarding deposits.

	Deposits
	At September 30,		At December 31,
	2023		2022
	(In thousands)
Noninterest-bearing	$	2,723,403	$	2,947,277
Interest-bearing:
Transaction		1,138,220		1,273,143
Savings		1,732,849		1,874,115
Time deposits less than $100 thousand		59,505		65,962
Time deposits $100 thousand through $250 thousand		33,400		42,733
Time deposits more than $250 thousand		11,636		22,060
Total deposits	$	5,699,013	$	6,225,290

Demand deposit overdrafts of $699 thousand and $995 thousand were included as loan balances at September 30, 2023 and December 31, 2022, respectively. Interest expense for aggregate time deposits with individual account balances in excess of $100 thousand was $26 thousand and $91 thousand for the three and nine months ended September 30, 2023, respectively, and $39 thousand and $120 thousand for the three and nine months ended September 30, 2022, respectively.

The following table provides additional detail regarding short-term borrowed funds.

	Repurchase Agreements (Sweep) Accounted for as Secured Borrowings
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous
	At September 30,		At December 31,
	2023		2022
Repurchase agreements:	(In thousands)
Collateral securing borrowings:
Agency residential MBS	$	25,725	$	30,108
Corporate securities		203,553		203,774
Total collateral carrying value	$	229,278	$	233,882
Total short-term borrowed funds	$	115,341	$	57,792

At September 30, 2023, the Company had uncommitted lines of credit for overnight borrowings from correspondent banks totaling $100 million. Additionally, the Company had access to borrowing from the Federal Reserve up to $964 million based on the collateral pledged at September 30, 2023. There were no outstanding amounts under the above-mentioned borrowings at September 30, 2023. For the nine months ended September 30, 2023, the average balances of the above-mentioned borrowings were $-0- thousand. At September 30, 2023, the Company’s estimated unpledged debt securities collateral qualifying for Federal Reserve borrowing totaled $1,930,927 thousand.