FHLB Borrowings

6 Months Ended

Jun. 30, 2019

Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures [Abstract]

FHLB Borrowings

Note 12. FHLB Borrowings

The Company’s FHLB borrowings and weighted average interest rates are summarized below:

	June 30, 2019				December 31, 2018
	Amount			Rate	Amount		Rate
	(dollars in thousands)
Total FHLB borrowings	$	597,317		2.51%	$	600,001	2.59%
By remaining period to maturity:
Less than 1 year	$	474,105		2.54%	$	405,000	2.57%
1 year through less than 2 years		61,000		2.25%		110,000	2.75%
2 years through less than 3 years		27,353		2.15%		60,000	2.27%
3 years through less than 4 years		32,428		2.82%		-	-
4 years through 5 years		2,852		2.43%		25,000	2.92%
Total FHLB borrowings		597,738		2.51%		600,000	2.59%
Fair value (discount) premium		(421	)			1
FHLB borrowings, net	$	597,317			$	600,001

The FHLB borrowings are secured by pledges of certain collateral including, but not limited to, U.S. government and agency mortgage-backed securities and a blanket assignment of qualifying first lien mortgage loans, consisting of both residential mortgages and commercial real estate loans.

Advances are payable at stated maturity, with a prepayment penalty for fixed rate advances. All FHLB advances are fixed rates. The advances at June 30, 2019 were primarily collateralized by approximately $1.9 billion of commercial mortgage loans, net of required over collateralization amounts, under a blanket lien arrangement. At June 30, 2019 the Company had remaining borrowing capacity of approximately $1.0 billion at FHLB.