Short-Term Borrowings

6 Months Ended

Jun. 30, 2019

Short-Term Borrowings

8. Short-Term Borrowings

At June 30, 2019 and December 31, 2018, short-term borrowings were comprised of the following:

(dollars in thousands)	June 30, 2019		December 31, 2018
Short-term FHLB fixed-rate advance(1)	$	200,000	$	—
Total short-term borrowings	$	200,000	$	—

(1) Interest is payable monthly.

As of June 30, 2019, the Company’s short-term borrowings consisted of a $200.0 million short-term FHLB fixed-rate advance with a 2.79% annual interest rate that matures in June 2020. The short-term FHLB fixed-rate advance requires monthly interest-only payments with the principal amount due on the maturity date. See “Note 6. Transfers of Financial Assets” for more information.