Borrowings

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Borrowings

Borrowings

Advances payable to the FHLB amounted to $576.0 million and $626.0 million, respectively, at March 31, 2026 and December 31, 2025. See Note 6 for additional disclosure on derivatives designated as cash flow hedges to hedge the interest rate risk associated with short-term FHLB advances.

The Bank pledges certain qualified investment securities and loans as collateral to the FHLB. The Bank had available borrowing capacity of $1.4 billion with the FHLB as of both March 31, 2026 and December 31, 2025. In addition, the Bank had access to a $40.0 million unused line of credit with the FHLB at both March 31, 2026 and December 31, 2025.

The Bank had standby letters of credit with the FHLB of $65.1 million and $66.0 million at March 31, 2026 and December 31, 2025 to collateralize institutional deposits.

The following table presents maturities and weighted average interest rates on FHLB advances outstanding as of March 31, 2026:

(Dollars in thousands)	Scheduled Maturity	Weighted Average Rate
April 1, 2026 to December 31, 2026	$340,000	4.07	%
2027	60,000	4.12
2028	90,000	4.33
2029	80,000	3.82
2030	6,000	3.33
2031 and thereafter	—	—
Balance at March 31, 2026	$576,000	4.07	%