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Federal Home Loan Bank Advances and Other Borrowings
 12 Months Ended
Dec. 31, 2021
Advances from Federal Home Loan Banks [Abstract]  
Federal Home Loan Bank Advances and Other Borrowings Federal Home Loan Bank Advances and Other Borrowings
 
As of December 31, 2021, the Company has a line of credit with the FHLB that provides for advances totaling up to 40% of the Company’s assets, equating to a credit line of $8.40 billion, of which $5.50 billion was available for borrowing. The amount available for borrowing was based on collateral pledged by real estate loans with an aggregate balance of $8.74 billion.

At December 31, 2021, the Company had $550.0 million in overnight FHLB advances, compared to $31.0 million in term advances at December 31, 2020. The overnight advances have an interest rates rate of 0.20%.

The following table summarizes activities in advances from the FHLB for the periods indicated:
 Year Ended December 31,
(Dollars in thousands)20212020
Average balance outstanding$24,886 $139,190 
Weighted average rate0.39 %1.10 %
Maximum amount outstanding at any month-end during the year$550,000 $521,017 
Balance outstanding at end of year$550,000 $31,000 
Weighted average interest rate at year-end0.20 %1.53 %
 
At December 31, 2021, the Bank had unsecured lines of credit with seven correspondent banks for a total amount of $330.0 million and access through the Federal Reserve discount window to borrow $20.4 million secured by investment securities. At December 31, 2021 and December 31, 2020, the Company had no outstanding balances against these lines.

The Company maintains additional sources of liquidity at the Corporation level. The Corporation renewed the line of credit of $15.0 million with U.S. Bank matured in September 2021, extended the maturity date to September 27, 2022, and increased the aggregate principal amount to $25.0 million. At December 31, 2021, the Corporation had $8.0 million short-term borrowing outstanding compared to no outstanding balances against this line at December 31, 2020.

The following table summarizes activities in other borrowings for the periods indicated:
 Year Ended December 31,
(Dollars in thousands)20212020
Average balance outstanding$61 $251 
Weighted average rate0.34 %0.16 %
Maximum amount outstanding at any month-end during the year$8,000 $5,000 
Balance outstanding at end of year$8,000 $— 
Weighted average interest rate at year-end2.15 %— %