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FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS
 3 Months Ended
Mar. 31, 2022
Federal Home Loan Banks [Abstract]  
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS
The following table presents advances from the FHLB as of the dates indicated:
($ in thousands)March 31,
2022		December 31,
2021
Fixed rate:
Outstanding balance (1)
$411,000 $411,000 
Interest rates ranging from0.64 %0.64 %
Interest rates ranging to3.32 %3.32 %
Weighted average interest rate2.53 %2.53 %
Variable rate:
Outstanding balance$150,000 $70,000 
Weighted average interest rate0.43 %0.20 %
(1)Excludes $4.6 million and $4.9 million of unamortized debt issuance costs at March 31, 2022 and December 31, 2021.    

Each advance is payable at its maturity date. Advances paid early are subject to a prepayment penalty. At the end of the first quarter of 2022, FHLB advances included $150.0 million in overnight borrowings and $411.0 million in term advances with a weighted average life of 3.7 years and weighted average interest rate of 2.53%.
The Bank’s advances from the FHLB are collateralized by a blanket lien on all real estate loans. Our secured borrowing capacity with the FHLB totaled $1.88 billion, of which the Bank was eligible to borrow an additional $1.08 billion at March 31, 2022 based on qualifying loans with an aggregate unpaid principal balance of $2.44 billion as of that date.
The Bank’s investment in capital stock of the FHLB of San Francisco totaled $17.3 million at March 31, 2022 and December 31, 2021.
At March 31, 2022, the Bank had borrowing capacity with the Federal Reserve Bank of San Francisco (“Federal Reserve”) of $752.8 million, including the secured borrowing capacity through the Federal Reserve Discount Window and Borrower-in-Custody ("BIC") program. At March 31, 2022, the Bank has pledged certain qualifying loans with an unpaid principal balance of $1.09 billion and securities with a carrying value of $8.9 million as collateral for these lines of credit. Borrowings under the BIC program are overnight advances with interest chargeable at the discount window (“primary credit”) borrowing rate. There were no borrowings under this arrangement for the three months ended March 31, 2022 and 2021.
The Bank’s investment in capital stock of the Federal Reserve totaled $34.2 million and $27.3 million at March 31, 2022 and December 31, 2021.
The Bank maintained available unsecured federal funds lines with five correspondent banks totaling $210.0 million, with no outstanding borrowings at March 31, 2022. The Bank also has the ability to perform unsecured overnight borrowing from various financial institutions through the American Financial Exchange platform (AFX). The availability of such unsecured borrowings fluctuates regularly and are subject to the counterparties discretion and totaled $441.0 million at March 31, 2022 and December 31, 2021. Borrowings under the AFX totaled $170.0 million and $25.0 million at March 31, 2022 and December 31, 2021.
In December 2021, the holding company entered into a $50.0 million revolving line of credit, which matures on December 19, 2022. There were $20.0 million and zero in borrowings under this line of credit at March 31, 2022 and December 31, 2021. At March 31, 2022, we were in compliance with all covenants under our revolving line of credit.
The Bank also maintained repurchase agreements and had no outstanding securities sold under agreements to repurchase at March 31, 2022 and December 31, 2021. Availabilities and terms on repurchase agreements are subject to the counterparties' discretion and the pledging of additional investment securities.