Short-Term Borrowings

9 Months Ended

Sep. 30, 2019

Short-Term Borrowings

Short-Term Borrowings

8. Short-Term Borrowings

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

(dollars in thousands)	September 30, 2019		December 31, 2018
Short-term FHLB fixed-rate advances(1)	$	400,000	$	—
Total short-term borrowings	$	400,000	$	—

(1) Interest is payable monthly.

As of September 30, 2019, the Company’s short-term borrowings included $400.0 million in short-term FHLB fixed-rate advances with a weighted average interest rate of 2.84% and maturity dates in 2020. The short-term FHLB fixed-rate advances require monthly interest-only payments with the principal amount due on the maturity date. See “Note 6. Transfers of Financial Assets” for more information.