Annual report pursuant to Section 13 and 15(d)

Borrowings (Tables)

v3.10.0.1
Borrowings (Tables)
 12 Months Ended
Dec. 31, 2018
Federal Home Loan Banks [Abstract]  
FHLB Advances
Borrowings consisted of the following:
 
As of December 31,
 
2018
 
2017
 
(in thousands)
FHLB advances
$
55,000

 
$
150,000

Total FHLB advances
$
55,000

 
$
150,000

Summary of Contractual Maturities Pertaining to FHLB
FHLB advances represent collateralized obligations with the FHLB. The following is a summary of contractual maturities pertaining to FHLB advances:
Year of Maturity
Amount
 
Weighted-
Average
Interest
Rate
 
(dollars in thousands)
2018
$
55,000

 
2.56
%
Total
$
55,000

 
2.56
%
Summary of Financial Data Pertaining to Federal Home Loan Bank Advances
The following is financial data pertaining to overnight FHLB advances:
 
As of December 31,
 
2018
 
2017
 
2016
 
(dollars in thousands)
Weighted-average interest rate at end of year
2.56
%
 
1.41
%
 
0.55
%
Weighted-average interest rate during the year
1.94
%
 
0.90
%
 
0.45
%
Average balance of FHLB advances
$
174,452

 
$
119,041

 
$
196,708

Maximum amount outstanding at any month-end
$
300,000

 
$
330,000

 
$
320,000