FHLB Advances and Other Borrowings

6 Months Ended

Mar. 31, 2020

FHLB advances and other borrowings consist of the following at March 31, 2020 and September 30, 2019.


	March 31, 2020		September 30, 2019
	(dollars in thousands)
Short-term borrowings:
Notes payable to FHLB, interest rates from 0.37% to 0.74%, maturing in April 2020 and May 2020	$	400,000	$	—
FHLB fed funds advance, interest rate of 0.35%, matured in April 2020	75,000		15,000
Long-term borrowings:
Notes payable to FHLB, interest rates from 2.36% to 3.66% and maturity dates from March 2021 to September 2024 collateralized by real estate loans, with various call dates at the option of the FHLB	325,000		325,000
Total	$	800,000	$	340,000

As of March 31, 2020 and September 30, 2019, the Company had a borrowing capacity of $1.23 billion and $1.44 billion, respectively, with the FRB Discount Window. Principal balances of loans pledged to FRB Discount Window to collateralize the borrowing totaled $1.48 billion at March 31, 2020 and $1.72 billion at September 30, 2019. The Company has secured this line for contingency funding.

As of March 31, 2020 and September 30, 2019, based on its collateral pledged, the additional borrowing capacity of the Company with the FHLB was $1.46 billion and $1.80 billion, respectively.

Principal balances of loans pledged to the FHLB to collateralize notes payable totaled $4.11 billion and $4.20 billion at March 31, 2020 and September 30, 2019, respectively. The Company purchased letters of credit from the FHLB to pledge as collateral on public deposits. The amount outstanding was $0.0 million and $170.0 million at March 31, 2020 and September 30, 2019, respectively. The Company had additional letters of credit from the FHLB of $14.5 million and $14.9 million at March 31, 2020 and September 30, 2019, respectively, for other purposes.

As of March 31, 2020, FHLB advances and other borrowings are due or callable (whichever is earlier) in subsequent fiscal years as follows.


Fiscal year	Amount
	(dollars in thousands)
Remaining in 2020	$	475,000
2021	120,000
2022	60,000
2023	85,000
2024	60,000
2025 and thereafter	—
Total	$	800,000