Federal Home Loan Bank Advances

12 Months Ended

Dec. 31, 2018

Advances from Federal Home Loan Banks [Abstract]

A summary of the outstanding FHLB advances at December 31, 2018 and 2017, is as follows:



(Dollars in thousands)	2018		2017
1.44% advance due January 2018	$	—	$	250,000
1.49% advance due February 2018	—		94,663
1.57% advance due June 2019	1,991		—
1.75% advance due June 2020	3,940		—
1.72% advance due June 2020	2,461		—
1.88% advance due June 2021	2,934		—
4.18% advance due February 2022	25,000		25,000
1.52% advance due March 2022	50,000		50,000
1.45% advance due May 2022	50,000		50,000
1.46% advance due May 2022	90,000		90,000
1.98% advance due January 2023	100,000		—
0.93% advance due January 2028	100,000		—
Total FHLB advances	$	426,326	$	559,663

FHLB advances consist of obligations of the banks and are collateralized by qualifying residential real estate and home equity loans and certain securities. The banks have arrangements with the FHLB whereby, based on available collateral, they could have borrowed an additional $2.8 billion at December 31, 2018.

FHLB advances are stated at par value of the debt adjusted for unamortized prepayment fees paid at the time of prior restructurings of FHLB advances and unamortized fair value adjustments recorded in connection with advances acquired through acquisitions and debt issuance costs. Unamortized prepayment fees are amortized as an adjustment to interest expense using the effective interest method.

Approximately $365.0 million of the FHLB advances outstanding at December 31, 2018, have varying put or call dates ranging from January 2019 to January 2020. At December 31, 2018, the weighted average contractual interest rate on FHLB advances was 1.63%.