Affinity Bancshares, Inc. Debt Disclosure
(8) Borrowings
At December 31, 2025 and 2024, the Bank had a line of credit totaling $50.6 million and $40.0 million, respectively, from the FHLB, which is reviewed annually by the FHLB. At December 31, 2025, the Bank had remaining credit availability of $50.6 million.
The following advances were outstanding at December 31, 2025: (in thousands)
Advance Date |
|
Advance |
|
|
Interest Rate |
|
|
Maturity |
|
Rate |
|
Call Feature |
||
1/6/2023 |
|
$ |
10,000 |
|
|
|
4.22 |
% |
|
1/6/2026 |
|
Fixed |
|
N/A |
1/6/2023 |
|
|
10,000 |
|
|
|
3.94 |
% |
|
1/6/2028 |
|
Fixed |
|
N/A |
10/25/2023 |
|
|
10,000 |
|
|
|
3.99 |
% |
|
10/25/2028 |
|
Convertible |
|
4/27/2026 |
7/11/2024 |
|
|
14,000 |
|
|
|
3.50 |
% |
|
7/11/2029 |
|
Convertible |
|
4/13/2026 |
6/13/2025 |
|
|
10,000 |
|
|
|
3.48 |
% |
|
6/13/2029 |
|
Convertible |
|
N/A |
|
|
$ |
54,000 |
|
|
|
|
|
|
|
|
|
|
|
There was $0 and $4.8 million outstanding under the Bank Term Funding Program at December 31, 2025 and December 31, 2024 respectively.
At December 31, 2025 and 2024, the FHLB advances were collateralized by certain loans which totaled approximately $448.6 million and $434.5 million at December 31, 2025 and 2024, respectively, and by the Company’s investment in FHLB stock which totaled approximately $3.2 million at both December 31, 2025 and 2024.
The Company had one FHLB letter of credit of $13.0 million and $12.5 million, used to collateralize public deposits, at December 31, 2025 and 2024, respectively.
At December 31, 2025 and 2024 the Bank had unsecured federal funds lines of credit of $32.5 million, for which none was outstanding as of December 31, 2025 and 2024. The Bank also has a line of $56.7 million and $65.1 million with the Federal Reserve Bank of Atlanta Discount Window secured by $77.0 million and $84.0 million in loans as of December 31, 2025 and 2024, respectively. No amount was outstanding on the Discount Window as of December 31, 2025 or 2024.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 20, 2026 | Showing above |
| 2024 | Mar 21, 2025 | |
| 2023 | Mar 21, 2024 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.