8. Long-Term Debt

Long-term debt consisted of the following as of June 30, 2018 and December 31, 2017:



(dollars in thousands)	June 30, 2018		December 31, 2017
Capital lease(1)	$	34	$	34
FHLB advance(1)		200,000		—
Total long-term debt	$	200,034	$	34
(1) Interest is payable monthly.

As of June 30, 2018, the Company’s long-term debt included a $200.0 million FHLB advance with a 2.79% annual interest rate that matures in 2020. The FHLB advance requires monthly interest-only payments with the principal amount due on the maturity date. As of June 30, 2018, the available remaining borrowing capacity with the FHLB was $1.4 billion. The FHLB advance and remaining borrowing capacity were secured by residential loan collateral as of June 30, 2018. See “Note 6. Transfers of Financial Assets” for more information.

As of June 30, 2018 and December 31, 2017, the Company’s long-term debt included a capital lease obligation with a 6.78% annual interest rate that matures in 2021.

As of June 30, 2018, future contractual principal payments and maturities on long-term debt were as follows:


	Principal
(dollars in thousands)	Payments
2018	$	8
2019		8
2020		200,009
2021		9
Total	$	200,034