Note 7 — FHLB Advances and Other Borrowings

FHLB advances and other borrowings consisted of the following:

FHLB advances represent collateralized obligations with the FHLB. The following is a summary of contractual maturities pertaining to FHLB advances:

The following is financial data pertaining to FHLB advances:

We have pledged investment securities available for sale and loans receivable with carrying values of $11.2 million and $414.7 million, respectively, as collateral with the FHLB for this borrowing facility. The total borrowing capacity available from the collateral that has been pledged is $343.3 million, of which $215.8 million remained available as of December 31, 2013. At December 31, 2013, we had $87.1 million available for use through the Fed Discount Window, as we pledged loans with a carrying value of $118.4 million, and there were no borrowings.

At December 31, 2013, advances from the FHLB were $127.5 million, an increase of $124.6 million from the December 31, 2012 balance of $2.9 million. At December 31, 2013, the FHLB advances, primarily consisting of overnight borrowings, have remaining maturities of less than one year.

For the years ended December 31, 2013, 2012 and 2011 interest expense on FHLB advances were $151,000, $165,000 and $662,000, respectively, and the weighted-average interest rates were 2.28 percent, 5.27 percent and 1.00 percent, respectively.