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Borrowings
12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Borrowings
BORROWINGS
The Company maintains a secured credit facility with the FHLB against which the Bank may take advances. The borrowing capacity is limited to the lower of 25% of the Bank’s total assets or the Bank’s collateral capacity, which was $3.54 billion and $3.38 billion at December 31, 2017 and 2016, respectively. The terms of this credit facility require the Bank to pledge eligible collateral with the FHLB equal to at least 100% of outstanding advances. The Company also has an unsecured credit facility with the FHLB totaling $91.0 million at December 31, 2017.
Real estate secured loans with a carrying amount of approximately $4.91 billion and $5.53 billion were pledged as collateral for borrowings from the FHLB at December 31, 2017 and 2016, respectively. At December 31, 2017 and 2016, other than FHLB stock, no securities were pledged as collateral for borrowings from the FHLB.
At December 31, 2017 and 2016, FHLB advances were $1.16 billion and $754.3 million, and had a weighted average effective interest rate of 1.63% and 1.22%, respectively which is net of any discounts on acquired borrowing. FHLB borrowing at December 31, 2017 had various maturities through December 2022. At December 31, 2017 and December 31, 2016, $0 and $20.2 million, respectively, of the advances were putable advances. The original rate on FHLB advances as of December 31, 2017 ranged between 0.94% and 2.48%. At December 31, 2017, the Company had a remaining borrowing capacity of $2.32 billion. The Company acquired $200.0 million in FHLB advances from the acquisition of Wilshire during the third quarter of 2016, of which $100.0 million was repaid in the same quarter.
At December 31, 2017, the Company also had $69.9 million in overnight federal funds purchased from lines at other banks. There were no federal funds purchased from other banks at December 31, 2016. Total FHLB advances and federal funds purchased at December 31, 2017 was $1.23 billion compared to $754.3 million at December 31, 2016.
At December 31, 2017, the contractual maturities for FHLB advances and federal funds purchased were as follows:

December 31, 2017
Scheduled maturities in:
(Dollars in thousands)
2018
$
429,900

2019
322,693

2020
185,000

2021
145,000

2022 and thereafter
145,000

Total
$
1,227,593


As a member of the Federal Reserve Bank system, the Company may also borrow from the Federal Reserve Bank of San Francisco. The maximum amount that we may borrow from the Federal Reserve Bank’s discount window is up to 95% of the outstanding principal balance of the qualifying loans and the fair value of the securities that we pledge. At December 31, 2017, the principal balance of the qualifying loans pledged at the Federal Reserve Bank was $732.0 million and there were no investment securities pledged. There were no borrowings outstanding against this line.