FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS

12 Months Ended

Dec. 31, 2015

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS

At December 31, 2015, the Bank had fixed-rate advances of $200.0 million at a weighted average interest rate of 0.89 percent and variable-rate advances of $730.0 million at a weighted average interest rate of 0.27 percent from the FHLB. At December 31, 2014, $400.0 million of the Bank’s advances from the FHLB were fixed-rate and had interest rates ranging from 0.19 percent to 0.82 percent with a weighted average interest rate of 0.31 percent, and $233.0 million of the Bank’s advances from the FHLB were variable-rate and had a weighted average interest rate of 0.27 percent. The following table presents contractual maturities by year of the Bank's advances as of December 31, 2015:



	2016		2017		2018		2019		2020 and After		Total
	(In thousands)
Fixed rate	$	50,000	$	100,000	$	25,000	$	25,000	$	—	$	200,000
Variable rate	730,000		—		—		—		—		730,000
Total	$	780,000	$	100,000	$	25,000	$	25,000	$	—	$	930,000

Each advance is payable at its maturity date. Advances paid early are subject to a prepayment penalty. At December 31, 2015 and 2014, the Bank’s advances from the FHLB were collateralized by certain real estate loans with an aggregate unpaid principal balance of $3.38 billion and $1.84 billion, respectively. The Bank’s investment in capital stock of the FHLB of San Francisco totaled $39.2 million and $29.8 million, respectively, at December 31, 2015 and 2014. Based on this collateral and the Bank’s holdings of FHLB stock, the Bank was eligible to borrow an additional $1.29 billion at December 31, 2015. In addition, the Bank had available lines of credit with the Federal Reserve Bank totaling $89.7 million at December 31, 2015.

The following table presents financial data of FHLB advances as of the dates or for the periods indicated:



	As of or For the Year Ended December 31,
	2015			2014			2013
	($ in thousands)
Weighted-average interest rate at end of year	0.40		%	0.29		%	0.13		%
Average interest rate during the year	0.38		%	0.20		%	0.36		%
Average balance	$	553,162		$	267,816		$	74,712
Maximum amount outstanding at any month-end	$	1,355,000		$	633,000		$	250,000
Balance at end of year	$	930,000		$	633,000		$	250,000