Borrowings	9 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]
Borrowings	NOTE 9: BORROWINGS At September 30, 2018, our borrowings consisted of $192 million of overnight FHLB advances and $5 million in FHLB term borrowings at the Bank and $35 million of borrowings under a holding company line of credit. At December 31, 2017, our borrowings consisted of $628 million of overnight FHLB advances at the Bank and $50 million outstanding on a holding company line of credit. The overnight FHLB advances were paid in full in the early part of October 2018 and January 2018, respectively, and bore interest rates of 2.33% and 1.41%, respectively. At September 30, 2018, the interest rate on the holding company line of credit was 5.84%. Because the Bank utilizes overnight borrowings, the balance of outstanding borrowings fluctuates on a daily basis. FHLB advances are collateralized primarily by loans secured by multifamily and commercial real estate properties with a carrying value of $3.2 billion as of September 30, 2018. As a matter of practice, the Bank provides substantially all of its qualifying loans as collateral to the FHLB. The Bank’s total borrowing capacity from the FHLB at September 30, 2018 was $2.4 billion. In addition to the $197 million borrowing at September 30, 2018, the Bank had in place $201 million of letters of credit from the FHLB which are used to meet collateral requirements for borrowings from the State of California and local agencies. During 2017, FFI entered into a loan agreement with an unaffiliated lender that provided for a revolving line of credit for up to $50 million. The loan agreement matures in five years, with an option to extend the maturity date subject to certain conditions, and bears interest at 90 day LIBOR plus 350 basis points (3.50%). We are required to meet certain financial covenants during the term of the loan, including minimum capital levels and limits on classified assets. FFI’s obligations under the loan agreement are secured by, among other things, a pledge of all of its equity in FFB. In April 2018, the maximum amount under the line was increased by $25 million, to $75 million. The Bank also has $120 million available borrowing capacity through unsecured fed funds lines, ranging in size from $20 million to $25 million, with five other financial institutions and a $95 million secured line with the Federal Reserve Bank. None of these lines had outstanding borrowings as of September 30, 2018. Combined, the Bank’s unused lines of credit as of September 30, 2018 and December 31, 2017 were $2.2 billion and $943 million, respectively. The average balance of overnight borrowings during the first nine months of 2018 was $607 million, as compared to $499 million during all of 2017.

NOTE 9: BORROWINGS

At September 30, 2018, our borrowings consisted of $192 million of overnight FHLB advances and $5 million in FHLB term borrowings at the Bank and $35 million of borrowings under a holding company line of credit. At December 31, 2017, our borrowings consisted of $628 million of overnight FHLB advances at the Bank and $50 million outstanding on a holding company line of credit. The overnight FHLB advances were paid in full in the early part of October 2018 and January 2018, respectively, and bore interest rates of 2.33% and 1.41%, respectively. At September 30, 2018, the interest rate on the holding company line of credit was 5.84%. Because the Bank utilizes overnight borrowings, the balance of outstanding borrowings fluctuates on a daily basis.

FHLB advances are collateralized primarily by loans secured by multifamily and commercial real estate properties with a carrying value of $3.2 billion as of September 30, 2018. As a matter of practice, the Bank provides substantially all of its qualifying loans as collateral to the FHLB. The Bank’s total borrowing capacity from the FHLB at September 30, 2018 was $2.4 billion. In addition to the $197 million borrowing at September 30, 2018, the Bank had in place $201 million of letters of credit from the FHLB which are used to meet collateral requirements for borrowings from the State of California and local agencies.

During 2017, FFI entered into a loan agreement with an unaffiliated lender that provided for a revolving line of credit for up to $50 million. The loan agreement matures in five years, with an option to extend the maturity date subject to certain conditions, and bears interest at 90 day LIBOR plus 350 basis points (3.50%). We are required to meet certain financial covenants during the term of the loan, including minimum capital levels and limits on classified assets. FFI’s obligations under the loan agreement are secured by, among other things, a pledge of all of its equity in FFB. In April 2018, the maximum amount under the line was increased by $25 million, to $75 million.

The Bank also has $120 million available borrowing capacity through unsecured fed funds lines, ranging in size from $20 million to $25 million, with five other financial institutions and a $95 million secured line with the Federal Reserve Bank. None of these lines had outstanding borrowings as of September 30, 2018. Combined, the Bank’s unused lines of credit as of September 30, 2018 and December 31, 2017 were $2.2 billion and $943 million, respectively. The average balance of overnight borrowings during the first nine months of 2018 was $607 million, as compared to $499 million during all of 2017.