FHLB Borrowings

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

FHLB Borrowings

Note 9 – FHLB Borrowings

The Company’s FHLB borrowings and weighted average interest rates are summarized below:

	December 31, 2018					December 31, 2017
	Amount		Rate			Amount		Rate
	(dollars in thousands)
Total FHLB borrowings	$	600,001		2.59	%	$	670,077		1.76	%
By remaining period to maturity:
Less than 1 year	$	405,001		2.57	%	$	505,077		1.59	%
1 year through less than 2 years		110,000		2.75	%		35,000		1.60	%
2 years through less than 3 years		60,000		2.27	%		85,000		2.65	%
3 years through less than 4 years		-					45,000		2.15	%
4 years through 5 years		25,000		2.92	%		-
Total borrowings	$	600,001		2.59	%	$	670,077		1.76	%

The FHLB borrowings are secured by pledges of certain collateral including, but not limited to, U.S. government and agency mortgage-backed securities and a blanket assignment of qualifying first lien mortgage loans, consisting of both residential mortgages and commercial real estate loans.

Advances are payable at stated maturity, with a prepayment penalty for fixed rate advances. All FHLB advances are fixed rates. The advances at December 31, 2018 were primarily collateralized by approximately $1.7 billion of commercial mortgage and residential loans, net of required over collateralization amounts, under a blanket lien arrangement. At December 31, 2018 the Company had remaining borrowing capacity of approximately $1.0 billion at FHLB.