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FHLB Advances and Other Borrowings
 12 Months Ended
Sep. 30, 2019
Federal Home Loan Banks [Abstract]  
FHLB Advances and Other Borrowings FHLB ADVANCES AND OTHER BORROWINGS
 
The table below shows the maturity dates of outstanding FHLB advances.
 
 
September 30, 2019
September 30, 2018
 
(In thousands)
FHLB advances
 
 
Within 1 year
$
950,000

$
1,680,000

1 to 3 years
750,000

300,000

3 to 5 years
400,000

200,000

More than 5 years
150,000

150,000

 
$
2,250,000

$
2,330,000


 
As of September 30, 2019, there is $100,000,000 of FHLB advances that are callable as of August 7, 2020 and quarterly thereafter.
 
Financial information pertaining to the weighted-average cost and the amount of FHLB advances were as follows.
 
 
2019
2018
2017
 
(In thousands)
Weighted average interest rate, including cash flow hedges, at end of year
2.49
%
2.66
%
2.80
%
Weighted daily average interest rate, including cash flow hedges, during the year
2.69
%
2.62
%
3.00
%
Daily average of FHLB advances during the year
$
2,533,890

$
2,384,795

$
2,167,986

Maximum amount of FHLB advances at any month end
$
2,665,000

$
2,620,000

$
2,350,000

Interest expense during the year (including swap interest income and expense)
$
68,190

$
62,452

$
64,969


 

The Bank has a credit line with the Federal Home Loan Bank of Des Moines ("FHLB") equal to 45% of total assets, subject to collateral requirements.

The Bank has entered into borrowing agreements with the FHLB to borrow funds under a short-term floating rate cash management advance program and a fixed-rate term loan agreements. All borrowings are secured by stock of the FHLB, deposits with the FHLB and a blanket pledge of qualifying loans receivable as provided in the agreements with the FHLB.