Note 9 – Borrowings

CalFirst Bank is a member of the Federal Home Loan Bank of San Francisco and can take advantage of FHLB programs for overnight and term advances at published daily rates. Under terms of a blanket collateral agreement, advances from the FHLB are collateralized by qualifying real estate loans and investment securities. The Bank also has authority to borrow from the Federal Reserve Bank (“FRB”) discount window amounts secured by certain lease receivables. Borrowing capacity from the FHLB or FRB may fluctuate based upon the acceptability and risk rating of securities, loan and lease collateral and both the FRB and FHLB could adjust advance rates applied to such collateral at their discretion.

Short-term borrowings consist of funds with remaining maturities of one year or less and long-term debt consists of borrowings with remaining maturities greater than one year. The Company had no long-term borrowings at June 30, 2016 and 2015. The borrowings from the FHLB and weighted average interest rates at June 30, 2016 and 2015 were as follows:

	June 30, 2016					June 30, 2015
			Weighted					Weighted
(dollars in thousands)	Amount		Average Rate			Amount		Average Rate

Short-term borrowings
FHLB advances	$	40,000		0.42	%	$	42,000		0.32	%

At June 30, 2016, there was estimated available borrowing capacity from the FHLB of $40.8 million related to qualifying real estate loans of $3.5 million and securities with a carrying value of $79.1 million. There were no borrowings from the FRB, leaving availability of approximately $107.2 million secured by $140.4 million of lease receivables.