Borrowings

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Borrowings

Borrowings

Advances payable to the FHLB amounted to $55.0 million and $145.0 million, respectively, at March 31, 2022 and December 31, 2021.

As of March 31, 2022 and December 31, 2021, the Bank had access to a $40.0 million unused line of credit with the FHLB. Additionally, the Bank had a $102.0 million standby letter of credit with the FHLB at March 31, 2022. The Bank had remaining available borrowing capacity of $1.6 billion with the FHLB at both March 31, 2022 and December 31, 2021. The Bank pledges certain qualified investment securities and loans as collateral to the FHLB.

The following table presents maturities and weighted average interest rates on FHLB advances outstanding as of March 31, 2022:

(Dollars in thousands)	Scheduled Maturity	Weighted Average Rate
April 1, 2022 to December 31, 2022	$20,000	0.65	%
2023	35,000	0.45
2024	—	—
2025	—	—
2026	—	—
2027 and thereafter	—	—
Balance at March 31, 2022	$55,000	0.52	%