Borrowings

The Company participates in the FHLB of New York Overnight Advance Program. Advances under this program allow the Company to borrow up to the balance of its qualifying mortgage loans that have been pledged as collateral, less any related outstanding indebtedness. As of December 31, 2019 and 2018, the Company had $173.6 million and $149.9 million, respectively, available for borrowing under this agreement.

Term advances due to the FHLB of NY at December 31, 2019 and 2018 consisted of the following:



	Fixed Interest		At December 31,
Maturity	Rate		2019		2018
			(Dollars in thousands)
July 6, 2020	1.79	%	$	2,675	$	2,675
September 8, 2020	1.75		5,000		5,000
November 23, 2020	2.27		10,000		10,000
September 8, 2021	1.89		5,000		5,000
September 8, 2022	2.01		5,000		5,000
			$	27,675	$	27,675

The advances are secured by a blanket assignment of unpledged and qualifying mortgage and commercial real estate loans.

The Company had $23.9 million in overnight advances with the FHLB of NY at a rate of 1.81% as of December 31, 2019 and $66.6 million in overnight advances with the FHLB of NY at a rate of 2.60% as of December 31, 2018.

As of December 31, 2019 and 2018, the Company had a $13.0 million unsecured line of credit with another financial institution. There were no amounts outstanding on the line as of December 31, 2019 and 2018.