ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB)

9 Months Ended

Sep. 30, 2016

ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB)

NOTE 17 – ADVANCES FROM THE FEDERAL HOME LOAN BANK (FHLB)

The following is a summary of the advances from the FHLB:
		September 30,		December 31,
	(Dollars in thousands)	2016		2015
	Fixed-rate advances from FHLB, with a weighted-
	average interest rate of 1.40% (December 31, 2015 - 1.30%)	$	355,000	$	455,000

Advances from FHLB mature as follows:
	(In thousands)	September 30, 2016
	Over six months to one year	$	200,000
	Over one year to three years		25,000
	Over three to four years		130,000
	Total	$	355,000

As of September 30, 2016, the Corporation had additional capacity of approximately $1.1 billion on this credit facility based on collateral pledged at the FHLB, including a haircut reflecting the perceived risk associated with holding the collateral.