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Long-Term Debt | 6 Months Ended
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Jun. 30, 2018
Long-Term Debt |
Long-Term Debt | 8. Long-Term Debt Long-term debt consisted of the following as of June 30, 2018 and December 31, 2017:
(dollars in thousands) |  | June 30, 2018 |  | December 31, 2017
Capital lease(1) |  | $ | 34 |  | $ | 34
FHLB advance(1) |  |  | 200,000 |  |  | —
Total long-term debt |  | $ | 200,034 |  | $ | 34
(1) Interest is payable monthly. |  |  |  |  |  |
As of June 30, 2018, the Company’s long-term debt included a $200.0 million FHLB advance with a 2.79% annual interest rate that matures in 2020. The FHLB advance requires monthly interest-only payments with the principal amount due on the maturity date. As of June 30, 2018, the available remaining borrowing capacity with the FHLB was $1.4 billion. The FHLB advance and remaining borrowing capacity were secured by residential loan collateral as of June 30, 2018. See “Note 6. Transfers of Financial Assets” for more information. As of June 30, 2018 and December 31, 2017, the Company’s long-term debt included a capital lease obligation with a 6.78% annual interest rate that matures in 2021. As of June 30, 2018, future contractual principal payments and maturities on long-term debt were as follows:
|  | Principal
(dollars in thousands) |  | Payments
2018 |  | $ | 8
2019 |  |  | 8
2020 |  |  | 200,009
2021 |  |  | 9
Total |  | $ | 200,034

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- Definition The entire disclosure for debt and capital lease obligations can be reported. Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Also includes descriptions and amounts of capital leasing arrangements that consist of direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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- References No definition available. + Details
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