Annual report pursuant to Section 13 and 15(d)

Borrowings (Tables)

v3.19.3.a.u2
Borrowings (Tables)
 12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Borrowings The following is a summary of contractual maturities of FHLB advances:

 

 

 

December 31, 2019

 

 

December 31, 2018

 

 

 

Outstanding

Balance

 

 

Weighted

Average

Rate

 

 

Outstanding

Balance

 

 

Weighted

Average

Rate

 

 

 

(in thousands)

 

Overnight advances

 

$

15,000

 

 

 

1.66

%

 

$

55,000

 

 

 

2.56

%

Advances due within 12 months

 

 

25,000

 

 

 

1.75

%

 

 

—

 

 

 

—

 

Advances due over 12 months through 24 months

 

 

25,000

 

 

 

1.66

%

 

 

—

 

 

 

—

 

Advances due over 24 months through 36 months

 

 

25,000

 

 

 

1.72

%

 

 

—

 

 

 

—

 

Outstanding advances

 

$

90,000

 

 

 

1.70

%

 

$

55,000

 

 

 

2.56

%
Summary of Financial Data Pertaining to Federal Home Loan Bank Advances

The following is financial data pertaining to FHLB advances:

 

 

 

As of December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

 

 

(dollars in thousands)

 

Weighted-average interest rate at end of year

 

 

1.70

%

 

 

2.56

%

 

 

1.41

%

Weighted-average interest rate during the year

 

 

1.89

%

 

 

1.94

%

 

 

0.90

%

Average balance of FHLB advances

 

$

40,374

 

 

$

174,452

 

 

$

119,041

 

Maximum amount outstanding at any month-end

 

$

285,000

 

 

$

300,000

 

 

$

330,000