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Federal Home Loan Bank Advances and Other Borrowings
12 Months Ended
Dec. 31, 2022
Federal Home Loan Bank Advances and Repurchase Agreements [Abstract]  
Federal Home Loan Bank Advances and Other Borrowings

NOTE 10 – Federal Home Loan Bank Advances and Other Borrowings

 

At December 31, 2022, the Company had a $175.0 million FHLB Advance at a variable rate of 4.57%, while at December 31, 2021 the Company had no FHLB Advances outstanding. The FHLB advance was secured with approximately $1.05 billion of mortgage loans and $9.3 million of stock in the FHLB at December 31, 2022 and matures on February 16, 2023.