Advances from Federal Home Loan Bank

12 Months Ended

Jun. 30, 2024

Advances from Federal Home Loan Bank

Advances from Federal Home Loan Bank

NOTE 6:  Advances from Federal Home Loan Bank

Advances from Federal Home Loan Bank are summarized as follows:

	Interest		June 30,
Maturity	Rate		2024			2023
			(dollars in thousands)
07/24/23	0.59	%	$	—		$	998
11/15/23	0.57	%		—			993
03/06/24	0.95	%		—			3,000
03/28/24	2.56	%		—			8,000
07/24/24	0.66	%		1,995			1,966
08/13/24	1.88	%		3,000			3,000
03/06/25	1.01	%		3,000			3,000
07/15/25	0.77	%		1,967			1,939
04/20/26	4.39	%		5,000			5,000
06/22/26	4.55	%		5,000			5,000
06/26/26	4.49	%		5,000			5,000
07/17/26	4.54	%		5,000			—
07/22/26	1.10	%		1,951			1,929
12/14/26	2.65	%		137			189
04/12/27	4.04	%		5,000			5,000
04/27/27	4.07	%		5,000			5,000
05/03/27	3.95	%		5,000			5,000
05/12/27	3.86	%		5,000			5,000
06/22/27	4.38	%		5,000			5,000
06/25/27	4.34	%		5,000			5,000
07/19/27	4.37	%		5,000			—
03/23/28	3.85	%		10,000			10,000
03/24/28	3.93	%		10,000			10,000
06/22/28	4.21	%		5,000			5,000
06/26/28	4.18	%		5,000			5,000
07/18/28	4.19	%		5,000			—
Overnight	5.35	%		—			33,500
	TOTAL		$	102,050		$	133,514
Weighted-average rate				3.82	%		3.95	%

Of the advances outstanding at June 30, 2024, none are callable by the FHLB prior to maturity. In addition to the above advances, the Bank had additional available credit amounting to $742.5 million and $541.3 million with the FHLB at June 30, 2024 and 2023, respectively.

Advances from FHLB of Des Moines are secured by FHLB stock and commercial real estate loans, one- to four-family mortgage loans and multi-family mortgage loans pledged. To secure outstanding advances and the Bank’s line of credit, loans totaling $1.4 billion and $1.1 billion were pledged to the FHLB at June 30, 2024 and 2023, respectively. The principal maturities of FHLB advances at June 30, 2024, are below:

	June 30, 2024
FHLB Advance Maturities	(dollars in thousands)
July 1, 2024 to June 30, 2025	$	7,995
July 1, 2025 to June 30, 2026		16,967
July 1, 2026 to June 30, 2027		37,088
July 1, 2027 to June 30, 2028		35,000
July 1, 2028 to June 30, 2029		5,000
TOTAL	$	102,050