Other Borrowings

(a) Federal Home Loan Bank Advances

The Federal Home Loan Bank ("FHLB") of Des Moines functions as a member-owned cooperative providing credit for member financial institutions. Advances are made pursuant to several different programs. Each credit program has its own interest rate and range of maturities. Limitations on the amount of advances are based on a percentage of the Bank's assets or on the FHLB’s assessment of the institution’s creditworthiness. At June 30, 2016, the Bank maintained a credit facility with the FHLB of Des Moines for $623.4 million. At June 30, 2016 there were $33.0 million of FHLB advances outstanding and the weighted average rate was 0.42%. At December 31, 2015 there were no FHLB advances outstanding.

The following table sets forth the details of FHLB advances during three and six months ended June 30, 2016 and 2015:



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
	(Dollars in thousands)
Average balance during the period	$	29,272		$	6,531		$	14,636		$	3,418
Maximum month-end balance during the period	$	57,300		$	48,200		$	57,300		$	48,200
Weighted average rate during the period	0.54		%	0.34		%	0.54		%	0.33		%

Advances from the FHLB are collateralized by a blanket pledge on FHLB stock owned by the Bank, deposits at the FHLB, certain one-to-four single family residential loans, investment securities which are obligations of or guaranteed by the United States or other assets. In accordance with the pledge agreement, the Company must maintain unencumbered collateral in an amount equal to varying percentages ranging from 100% to 160% of outstanding advances depending on the type of collateral.

(b) Federal Funds Purchased

The Bank maintains advance lines with Wells Fargo Bank, US Bank, TIB and Pacific Coast Bankers’ Bank to purchase federal funds of up to $90.0 million as of June 30, 2016. The lines generally mature annually or are reviewed annually. As of June 30, 2016 and December 31, 2015, there were no federal funds purchased.

The Bank maintains a credit facility with the Federal Reserve Bank of San Francisco for $61.7 million as of June 30, 2016, of which there were no borrowings outstanding as of June 30, 2016 or December 31, 2015. Any advances on the credit facility would have to be first secured by the Bank's investment securities or loans receivable.