As a member of the FHLB, the Bank can access a number of credit products which are utilized to provide liquidity. As of December 31, 2020, and 2019, the Bank had long-term debt outstanding in the amount of $75,115,000 and $32,903,000, respectively, consisting of FHLB fixed rate instruments, and a finance lease liability executed in 2019.

The FHLB fixed rate instruments are secured under the terms of a blanket collateral agreement with the FHLB consisting of FHLB stock and qualifying Mid Penn loan receivables, principally real estate secured loans. Mid Penn also obtains letters of credit from the FHLB to secure certain public fund deposits of municipality and school district customers who agree to use of the FHLB letters of credit. These FHLB letter of credit commitments totaled $288,950,000 as of December 31, 2020 and $169,051,000 as of December 31, 2019.

During the first quarter of 2019, Mid Penn entered into a lease agreement for one facility under a non-cancelable finance lease, which commenced March 1, 2019 and expires February 28, 2039 and is included in long-term debt on the Consolidated Balance Sheets. Please reference Note 9, Leases, for more information related to Mid Penn’s finance lease obligation.

The following table presents a summary of long-term debt as of December 31, 2020 and December 31, 2019.

(Dollars in thousands)	At December 31,
	2020		2019
FHLB fixed rate instruments:
Due June 2020, 1.72%	$	—	$	2,000
Due July 2020, 2.45%		—		5,000
Due August 2020, 3.05%		—		5,000
Due September 2020, 2.38%		—		2,500
Due October 2020, 3.06%		—		5,000
Due November 2020, 2.32%		—		3,000
Due December 2020, 1.78%		—		2,000
Due December 2020, 2.31%		—		3,000
Due April 2022, 0.86343%		70,000		—
Due August 2026, 4.80%		1,606		1,846
Due February 2027, 6.71%		42		47
Less: fair value adjustments on debt assumed in acquisitions		—		(41	)
Total FHLB fixed rate instruments		71,648		29,352
Lease obligations included in long-term debt		3,467		3,551
Total long-term debt	$	75,115	$	32,903

During 2020, Mid Penn prepaid $25,000,000 of FHLB fixed rate instruments and recognized prepayment penalties of $165,000 that is included in other expenses on the Consolidated Statement of Income for the year ended December 31, 2020. During 2019, Mid Penn prepaid $20,000,000 of FHLB fixed rate instruments and recognized a prepayment penalty of $93,000 for the year ended December 31, 2019. No prepayment penalties were recognized during the year ended December 31, 2018.

The aggregate principal amounts due on FHLB fixed rate instruments subsequent to December 31, 2020 are $258,000 (2021), $70,271,000 (2022), $284,000 (2023), $299,000 (2024), $313,000 (2025) and $223,000 thereafter.