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

	December 31, 2020						December 31, 2019
	Amount			Rate			Amount			Rate
	(dollars in thousands)
Total FHLB borrowings	$	425,954			1.07	%	$	500,293			1.96	%

By remaining period to maturity:
Less than 1 year	$	297,570			0.84	%	$	400,000			1.84	%
1 year through less than 2 years		75,644			1.42	%		62,000			2.26	%
2 years through less than 3 years		50,000			1.84	%		10,737			2.45	%
3 years through less than 4 years		-			n/a			25,000			2.92	%
4 years through 5 years		-			n/a			-
After 5 Years		2,824			2.42	%		2,882			2.43	%
Total FHLB borrowings		426,038			1.07	%		500,619			1.96	%
Fair value (discount) premium		(84	)					(326	)
FHLB borrowings, net	$	425,954					$	500,293

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 as of December 31, 2020 were primarily collateralized by approximately $2.0 billion of commercial mortgage and residential loans, net of required over collateralization amounts, under a blanket lien arrangement. As of December 31, 2020, the Company had remaining borrowing capacity of approximately $1.0 billion at the FHLB.