XML 56 R39.htm IDEA: XBRL DOCUMENT v3.22.4
Borrowings (Tables)
12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Summary of Short term and Long term Borrowings and Subordinated Debentures
The following table summarizes the Company's short-term borrowings and junior subordinated debentures as presented on the consolidated statements of condition for the dates indicated. At December 31, 2022 and 2021, the Company did not have any long-term borrowings.
December 31,
2022
Contractual MaturityDecember 31,
2021
(Dollars in thousands)
Outstanding BalanceWeighted
Average
Contractual Rate
20232024202520262027ThereafterOutstanding BalanceWeighted
Average
Contractual Rate
Short-Term Borrowings:
  
Customer repurchase agreements
$196,451 1.00 %$196,451 $— $— $— $— $— $211,608 0.25 %
FHLBB and correspondent bank overnight borrowings
68,725 4.78 %68,725 — — — — — — — 
Total short-term borrowings
$265,176 1.98 %$265,176 $— $— $— $— $— $211,608 0.25 %
Junior Subordinated Debentures:
CCTA(1)
36,083 4.62 %— — — — — 36,083 36,083 5.50 %
UBCT(1)
8,248 5.39 %— — — — — 8,248 8,248 5.48 %
Total subordinated debentures
$44,331 4.76 %$— $— $— $— $— $44,331 $44,331 5.50 %
(1)    The Company has interest rate swap contracts on certain borrowings. Refer to Note 12 for further discussion of derivative instruments.
Schedule of Federal Home Loan Bank Advances
The terms of the Company's outstanding FHLBB borrowings, including overnight funding, were as follows as of December 31, 2022. The Company had no FHLBB borrowings at December 31, 2021.
December 31,
(Dollars in thousands)2022
Stated MaturityOutstanding BalanceWeighted Average Contractual Rate
January 2023$18,725 4.38 %
March 202350,000 4.93 %
Total$68,725