FHLB Advances and Other Borrowings

12 Months Ended

Sep. 30, 2018

Federal Home Loan Banks [Abstract]

FHLB Advances and Other Borrowings

FHLB ADVANCES AND OTHER BORROWINGS

The table below shows the maturity dates of outstanding FHLB advances.

	September 30, 2018		September 30, 2017
	(In thousands)
FHLB advances
Within 1 year	$	1,680,000	$	1,395,000
1 to 3 years	300,000		430,000
3 to 5 years	200,000		400,000
More than 5 years	150,000		—
	$	2,330,000	$	2,225,000

There were no advances included in the above table that are callable by the FHLB.

Financial information pertaining to the weighted-average cost and the amount of FHLB advances were as follows.

	2018			2017			2016
	(In thousands)
Weighted average interest rate, including cash flow hedges, at end of year	2.66		%	2.80		%	3.15		%
Weighted daily average interest rate, including cash flow hedges, during the year	2.62		%	3.00		%	3.22		%
Daily average of FHLB advances during the year	$	2,384,795		$	2,167,986		$	1,992,434
Maximum amount of FHLB advances at any month end	$	2,620,000		$	2,350,000		$	2,080,000
Interest expense during the year (including swap interest income and expense)	$	62,452		$	64,969		$	64,059

The Bank has a credit line with the Federal Home Loan Bank of Des Moines ("FHLB") equal to 45% of total assets.

The Bank has entered into borrowing agreements with the FHLB to borrow funds under a short-term floating rate cash management advance program and a fixed-rate term loan agreements. All borrowings are secured by stock of the FHLB, deposits with the FHLB and a blanket pledge of qualifying loans receivable as provided in the agreements with the FHLB.