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OTHER BORROWINGS
 6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
OTHER BORROWINGS
NOTE 5 – OTHER BORROWINGS

Other borrowings consist of the following:

(dollars in thousands)June 30, 2022December 31, 2021
FHLB borrowings:  
Fixed Rate Advance due March 3, 2025; fixed interest rate of 1.208%
$15,000 $15,000 
Fixed Rate Advance due March 2, 2027; fixed interest rate of 1.445%
15,000 15,000 
Fixed Rate Advance due March 4, 2030; fixed interest rate of 1.606%
15,000 15,000 
Fixed Rate Advance due December 9, 2030; fixed interest rate of 4.55%
1,394 1,400 
Fixed Rate Advance due December 9, 2030; fixed interest rate of 4.55%
965 969 
Principal Reducing Advance due September 29, 2031; fixed interest rate of 3.095%
1,348 1,421 
Subordinated notes payable:  
Subordinated notes payable due June 1, 2026, net of unaccreted purchase accounting fair value adjustment of $— and $500, respectively; fixed interest rate of 5.50%
— 50,500 
Subordinated notes payable due March 15, 2027 net of unamortized debt issuance cost of $616 and $681, respectively; fixed interest rate of 5.75% through March 14, 2022; variable interest rate thereafter at three-month LIBOR plus 3.616%
74,384 74,319 
Subordinated notes payable due December 15, 2029 net of unamortized debt issuance cost of $1,801 and $1,923, respectively; fixed interest rate of 4.25% through December 14, 2024; variable interest rate thereafter at three-month SOFR plus 2.94%
118,199 118,077 
Subordinated notes payable due May 31, 2030 net of unaccreted purchase accounting fair value adjustment of $967 and $1,028, respectively; fixed interest rate of 5.875% through May 31, 2025; variable interest rate thereafter at three-month LIBOR plus 3.63%
75,967 76,028 
Subordinated notes payable due October 1, 2030 net of unamortized debt issuance cost of $1,665 and $1,766, respectively; fixed interest rate of 3.875% through September 30, 2025; variable interest rate thereafter at three-month SOFR plus 3.753%
108,335 108,234 
Securitization Facilities:
Equipment contract backed notes, Series 2018-1 (BCC XIV) due on various dates through 2025 and bear a weighted-average interest rate of 5.11%
— 19,199 
Equipment contract backed notes, Series 2019-1 (BCC XVI) due on various dates through 2027 and bear a weighted-average interest rate of 2.84%
— 139,329 
Equipment contract backed notes, Series 2020-1 (BCC XVII) due on various dates through 2027 and bear a weighted-average interest rate of 1.48%
— 105,403 
$425,592 $739,879 

The advances from the FHLB are collateralized by a blanket lien on all eligible first mortgage loans and other specific loans in addition to FHLB stock. At June 30, 2022, $4.19 billion was available for borrowing on lines with the FHLB.

As of June 30, 2022, the Bank maintained credit arrangements with various financial institutions to purchase federal funds up to $127.0 million.

The Bank also participates in the Federal Reserve discount window borrowings program. At June 30, 2022, the Bank had $2.91 billion of loans pledged at the Federal Reserve discount window and had $2.21 billion available for borrowing.