ADVANCES FROM FEDERAL HOME LOAN BANK OF DES MOINES

12 Months Ended

Dec. 31, 2019

Advances from Federal Home Loan Banks [Abstract]

ADVANCES FROM FEDERAL HOME LOAN BANK OF DES MOINES

Utilizing a blanket pledge, qualifying loans receivable at December 31, 2019 and 2018, were pledged as security for FHLB borrowings and there were no securities pledged as collateral as of December 31, 2019 or 2018. At December 31, 2019 and 2018, FHLB advances were scheduled to mature as follows (in thousands):



	At or for the Years Ended December 31
	2019				2018
	Amount		Weighted Average Rate		Amount		Weighted Average Rate
Maturing in one year or less	$	300,000	1.84	%	$	540,000	2.64	%
Maturing after one year through three years	150,000		2.58		—		—
Maturing after three years through five years	—		—		—		—
Maturing after five years	—		—		189		5.94
Total FHLB advances	$	450,000	2.09	%	$	540,189	2.64	%

The maximum amount outstanding from the FHLB advances at any month end for the years ended December 31, 2019 and 2018 was $666.0 million and $540.2 million, respectively. The average FHLB advances balance outstanding for the years ended December 31, 2019 and 2018 was $477.8 million and $253.7 million, respectively. The average contractual interest rate on the FHLB advances for the years ended December 31, 2019 and 2018 was 2.56% and 2.22%, respectively. As of December 31, 2019, Banner Bank has established a borrowing line with the FHLB to borrow up to 45% of its total assets, contingent on having sufficient qualifying collateral and ownership of FHLB stock. Islanders Bank similarly may borrow up to 45% of its total assets, also contingent on collateral and FHLB stock. At December 31, 2019, the maximum total FHLB credit line was $5.31 billion and $132.7 million for Banner Bank and Islanders Bank, respectively.