XML 58 R42.htm IDEA: XBRL DOCUMENT v3.25.4
Borrowings (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Federal Funds Purchased and Securities Sold Under Agreements to Repurchase
A significant portion of the Company's short-term borrowings were comprised of securities sold under agreements to repurchase with overnight maturities:
 For the Year Ended December 31,
(In thousands)20252024
Maximum amount outstanding at any month end$392,910 $352,272 
Weighted-average interest rate at end of year1.36%2.66%
Average amount outstanding$252,168 $269,255 
Weighted-average interest rate during the year2.10%3.43%
Schedule of Collateral Dependent Loans Company securities pledged were as follows by collateral type and maturity as of:
 December 31,
(In thousands)20252024
Fair value of pledged securities - overnight and continuous:
Mortgage-backed securities and collateralized mortgage obligations of U.S. government-sponsored entities$512,066 $237,074 
Schedule of Maturities of FHLB Borrowings
The following table details the maturities of our FHLB borrowings at December 31, 2025:
(In thousands)Contractual Interest RateCarrying Value
2026
3.7 - 4.7%
$600,000 
2027
3.1 - 4.1%
215,000 
2028N/A— 
20293.9 %20,000 
ThereafterN/A— 
Total$835,000 
Schedule of Junior Subordinated Trust Preferred Debentures and Related Common Equity Securities
The following table summarizes the Company's junior subordinated trust preferred debentures and related common equity securities as of December 31, 2025:
(In thousands)
DescriptionIssuance Date
Acquisition Date1
Maturity DateJunior Subordinated DebtTrust Preferred SecuritiesCommon Equity SecuritiesContractual Interest Rate
Interest Rate at December 31, 2025
SBCF Capital Trust I3/31/2005NA3/31/2035$20,619 $20,000 $619 
3 month SOFR +201bps
5.68%
SBCF Statutory Trust II12/16/2005NA12/16/203520,619 20,000 619 
3 month SOFR +159bps
5.31%
SBCF Statutory Trust III6/29/2007NA6/15/203712,372 12,000 372 
3 month SOFR +161bps
5.33%
The BANKshares, Inc. Statutory Trust I12/19/200210/1/201412/26/20325,155 5,000 155 
3 month SOFR +351bps
7.20%
The BANKshares, Inc. Statutory Trust II3/17/200410/1/20143/17/20344,124 4,000 124 
3 month SOFR +305bps
6.76%
The BANKshares, Inc. Capital Trust I12/15/200510/1/201412/15/20355,155 5,000 155 
3 month SOFR +165bps
5.53%
Grand Bank Capital Trust I10/29/20047/17/201510/29/20347,217 7,000 217 
3 month SOFR +198bps
5.93%
$75,261 $73,000 $2,261 
1Acquired junior subordinated debentures were recorded at their acquisition date fair values, which collectively was $5.6 million lower than face value; this amount is being amortized into interest expense over the remaining term to maturity.