Other Borrowings

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Other Borrowings

Note 13 – Other Borrowings

A summary of the balances of other borrowings follows:

	December 31,
	2019		2018
(in thousands)
Other collateralized borrowings, fixed rate, as of December 31, 2019 and 2018 of 0.05%, payable on January 2, 2020 and 2019, respectively	$	18,454	$	15,839
Total other borrowings	$	18,454	$	15,839

Other collateralized borrowings are generally overnight maturity borrowings from non-financial institutions that are collateralized by securities owned by the Company. As of December 31, 2019, the Company has pledged as collateral and sold under agreements to repurchase investment securities with fair value of $48,878,000 under these other collateralized borrowings.

The Company maintains a collateralized line of credit with the FHLB. Based on the FHLB stock requirements at December 31, 2019, this line provided for maximum borrowings of $2,257,336,000 of which zero was outstanding. As of December 31, 2019, the Company had designated investment securities with a fair value of $160,134,000 and loans totaling $3,070,793,000 as potential collateral under this collateralized line of credit with the FHLB.

The Company maintains a collateralized line of credit with the Federal Reserve Bank of San Francisco (“FRB”). As of December 31, 2019, this line provided for maximum borrowings of $273,395,000 of which none was outstanding. As of December 31, 2019, the Company has designated investment securities with fair value of $10,000 and loans totaling $273,385,000 as potential collateral under this collateralized line of credit with the FRB.

The Company has available unused correspondent banking lines of credit from commercial banks totaling $60,000,000 for federal funds transactions at December 31, 2019.