Short-Term Borrowings

3 Months Ended

Mar. 31, 2020

Short-Term Borrowings

Short-Term Borrowings

8. Short-Term Borrowings

At March 31, 2020 and December 31, 2019, short-term borrowings were comprised of the following:

(dollars in thousands)	March 31, 2020		December 31, 2019
Short-term FHLB fixed-rate advances(1)	$	400,000	$	400,000
Total short-term borrowings	$	400,000	$	400,000

(1) Interest is payable monthly.

As of both March 31, 2020 and December 31, 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. As of March 31, 2020 and December 31, 2019, the available remaining borrowing capacity with the FHLB was $1.8 billion and $1.7 billion, respectively. 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.