As of December 31, 2022, 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 $8.65 billion, of which $4.75 billion was remaining available for borrowing based on collateral pledged by qualifying real estate loans with an aggregate carrying value of $8.35 billion.

At December 31, 2022, the Company had $1.00 billion in term FHLB advances, compared to $550.0 million in overnight advances at December 31, 2021. The term advances have a weighted average interest rate of 3.19%.

The following table summarizes activities in FHLB advances for the periods indicated:


	Year Ended December 31,
(Dollars in thousands)	2022			2021
Average balance outstanding	$	574,238		$	24,886
Weighted average rate	2.29		%	0.39		%
Maximum amount outstanding at any month-end during the year	$	1,000,000		$	550,000
Balance outstanding at end of year	$	1,000,000		$	550,000
Weighted average interest rate at year-end	3.19		%	0.20		%

At December 31, 2022, 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 $170,000 secured by investment securities. At December 31, 2022 and 2021, the Company had no outstanding balances against these lines.

The Company maintains additional sources of liquidity at the Corporation level. The Corporation maintains a line of credit with U.S. Bank with availability of $25.0 million that will expire on September 26, 2023. At December 31, 2022, the Corporation had no outstanding balances against this line. At December 31, 2021, the Corporation had $8.0 million outstanding balances.

The following table summarizes activities in other borrowings for the periods indicated:


	Year Ended December 31,
(Dollars in thousands)	2022			2021
Average balance outstanding	$	82		$	61
Weighted average rate	1.26		%	0.34		%
Maximum amount outstanding at any month-end during the year	$	—		$	8,000
Balance outstanding at end of year	$	—		$	8,000
Weighted average interest rate at year-end	—		%	2.15		%