Short-term Borrowings/Other Borrowings

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Short-term Borrowings/Other Borrowings

Short-term Borrowings/Other Borrowings

At December 31, 2022, the Company’s available lines of credit totaled $557.8 million. The Company had collateralized lines of credit with the Federal Reserve Bank of San Francisco totaling $435.6 million, as well as Federal Home Loan Bank (FHLB) lines of credit totaling $2.2 million. At December 31, 2022, the Company had uncollateralized lines of credit of $50.0 million with Pacific Coast Bankers Bank (PCBB), $40.0 million with PNC, $20.0 million with Zions First National Bank, and $10.0 million with Union Bank. All lines of credit are on an “as available” basis and can be revoked by the grantor at any time. These lines of credit have interest rates that are generally tied to the Federal Funds rate or are indexed to short-term U.S. Treasury rates or LIBOR. FHLB advances are collateralized by the Company’s stock in the FHLB and investment securities.

At December 31, 2022, $2.3 million in investment securities at FHLB were pledged as collateral for FHLB advances. Additionally, $590.4 million in loans were pledged at December 31, 2022 as collateral for used and unused borrowing lines with the Federal Reserve Bank. At December 31, 2022, the Company had no outstanding borrowing balances.

At December 31, 2021, the Company’s available lines of credit totaled $443,706. The Company had collateralized lines of credit with the Federal Reserve Bank of San Francisco totaling $320.6 million, as well as Federal Home Loan Bank (FHLB) lines of credit totaling $3.1 million. At December 31, 2021, the Company had uncollateralized lines of credit of $50 million with Pacific Coast Bankers Bank (PCBB), $40.0 million with PNC, $20.0 million with Zions First National Bank, and $10.0 million with Union Bank. All lines of credit are on an “as available” basis and can be revoked by the grantor at any time.

These lines of credit have interest rates that are generally tied to the Federal Funds rate or are indexed to short-term U.S. Treasury rates or LIBOR. FHLB advances are collateralized by the Company’s stock in the FHLB and investment securities.As of December 31, 2021, $3.4 million in investment securities at FHLB were pledged as collateral for FHLB advances. Additionally, $490.5 million in real-estate secured loans were pledged at December 31, 2021, as collateral for used and unused borrowing lines with the Federal Reserve Bank. At December 31, 2021, the Company had no outstanding borrowing balances.