Note

– 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

long-term borrowings at

June 30, 2017

and

2016.

The borrowings from the FHLB and weighted average interest rates at

June 30, 2017

and

2016

were as follows:

	June 30, 2017					June 30, 2016
(dollars in thousands)			Weighted					Weighted
	Amount		Average Rate			Amount		Average Rate
Short-term borrowings
FHLB advances	$	40,000		1.12	%	$	40,000		0.42	%

June 30, 2017,

there was estimated available borrowing capacity from the FHLB of

$31.1

million related to qualifying real estate loans of

$4.3

million and securities with a carrying value of

$73.2

million. There were

borrowings from the FRB, leaving availability of approximately

$73.3

million secured by

$94.0

million of lease receivables.