FHLB Borrowings and Other Borrowings

12 Months Ended

Sep. 30, 2022

Advances from Federal Home Loan Banks [Abstract]

FHLB Borrowings and Other Borrowings

FHLB Borrowings and Other Borrowings

The Bank has long- and short-term borrowing lines with the FHLB with total credit on the lines up to 45% of the Bank’s total assets, limited by available collateral. At September 30, 2022, the Bank had a borrowing capacity of $492,289,000. The Bank had no long-term or short-term FHLB borrowings outstanding at September 30, 2022. The Bank had $5,000,000 in FHLB borrowings outstanding at September 30, 2021. Under the Advances, Pledge and Security Agreement entered into with the FHLB ("FHLB Borrowing Agreement"), virtually all of the Bank’s assets, not otherwise encumbered, are pledged as collateral for borrowings under the FHLB Borrowing Agreement.

The Bank also maintains a short-term borrowing line with the FRB with total credit based on eligible collateral. At September 30, 2022, the Bank had a borrowing capacity on this line of $77,089,000. The Bank had no outstanding borrowings on this line at both September 30, 2022 and 2021.

The Bank has a short-term $50,000,000 overnight borrowing line with Pacific Coast Bankers' Bank. The borrowing line may be reduced or withdrawn at any time. The Bank had no outstanding borrowings on this line at both September 30, 2022 and 2021.