Other Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Other Debt

Note 10.  Other Debt

The Company’s other debt as of December 31, 2020, and December 31, 2019, were as follows:

	December 31,
(dollars in thousands)	2020		2019
Federal Home Loan Bank Advances	$	50,000	$	75,000
Finance Lease Obligations		10,481		10,565
Total	$	60,481	$	85,565

As a member of the FHLB, the Bank may borrow funds from the FHLB in amounts up to 45% of the Bank’s total assets, provided the Bank is able to pledge an adequate amount of qualified assets to secure the borrowings.  As of December 31, 2020, FHLB advances totaled $50.0 million with a weighted-average interest rate of 1.19% and maturity dates during 2024.  As of December 31, 2020, the Company had a remaining line of credit with the FHLB of $2.8 billion.  See Note 4 Loans and Leases and the Allowance for Credit Losses for loans pledged to the FHLB as of December 31, 2020, and December 31, 2019.

Finance lease obligations relate to office space at the Company’s headquarters.  The lease began in 1993 and has a 60 year term. Lease payments are fixed at $0.8 million per year through December 2022 and are negotiable thereafter.

As of December 31, 2020, the Company had an undrawn line of credit with the FRB of $427.9 million.  See Note 4 Loans and Leases and the Allowance for Credit Losses for loans pledged to the FRB as of December 31, 2020, and December 31, 2019.

As of December 31, 2020, the annual maturities of the Company’s other debt, exclusive of finance lease obligations, were expected to be as follows:

(dollars in thousands)	Amount
2021	$	—
2022		—
2023		—
2024		50,000
2025		—
Thereafter		—
Total	$	50,000