FHLB Advances and Other Borrowings

12 Months Ended

Sep. 30, 2020

The following table presents the FHLB advances and other borrowings at September 30, 2020 and 2019.


	September 30,
	2020		2019
	(dollars in thousands)
Short-term borrowings:
Fed funds purchased,, interest rate of 0.12%, matured in October 2020	$	75,000	$	—
FHLB fed funds advance, interest rate of 2.09%, matured in October 2019	—		15,000
Long-term borrowings:
Notes payable to FHLB, interest rates from 2.76% to 2.88% and maturity dates from September 2022 to September 2024 collateralized by real estate loans, with various call dates at the option of the FHLB	120,000		325,000


Total FHLB advances and other borrowings	$	195,000	$	340,000

As of September 30, 2020 and 2019, the Company had a borrowing capacity of $947.7 million and $1.44 billion, respectively, with the FRB Discount Window. Principal balances of loans pledged to FRB Discount Window to collateralize the borrowing totaled $1.17 billion at September 30, 2020 and $1.72 billion at September 30, 2019. The Company has secured this line for contingency funding.

As of September 30, 2020 and 2019, based its collateral pledged, the additional borrowing capacity of the Company with the FHLB was $2.03 billion and $1.80 billion, respectively.

Principal balances of loans pledged to the FHLB to collateralize notes payable totaled $4.07 billion and $4.20 billion at September 30, 2020 and 2019, respectively. The Company purchased letters of credit from the FHLB to pledge as collateral on public deposits. The amount outstanding was $75.0 million and $170.0 million at September 30, 2020 and 2019, respectively. The Company had additional letters of credit from the FHLB of $14.6 million and $14.9 million at September 30, 2020 and 2019, respectively, for other purposes.

As of September 30, 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)
2021	$	75,000
2022	30,000
2023	30,000
2024	60,000
2025	—
2026 and thereafter	—
Total	$	195,000