BORROWINGS

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Debt Disclosure

BORROWINGS:

During the first quarter of 2023, the Company borrowed $300 million from the Federal Reserve Bank (“FRB”) under the Bank Term Funding Program (“BTFP”). The BTFP offers up to one year fixed-rate term borrowings that are prepayable without penalty.

The balances, maturity and rate of the outstanding borrowings from the FHLB and the FRB BTFP were as follows at March 31, 2023:

(dollars in thousands)	Amount		Weighted Average Rate
Within one year	$	878,000	4.84	%
One to three years	450,000		4.56	%
Three through five years	550,000		4.35	%
Total	$	1,878,000	4.63	%