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FHLB Advances and Other Borrowings
 12 Months Ended
Sep. 30, 2021
Federal Home Loan Banks [Abstract]  
FHLB Advances and Other Borrowings FHLB ADVANCES AND OTHER BORROWINGS
 
The table below shows the contractual maturity dates of outstanding FHLB advances.
 
September 30, 2021September 30, 2020
 (In thousands)
FHLB advances
Within 1 year$1,320,000 $1,830,000 
1 to 3 years400,000 520,000 
3 to 5 years— 350,000 
More than 5 years— — 
$1,720,000 $2,700,000 
 
As of September 30, 2021, there is a $100,000,000 advance that is callable quarterly by the FHLB. Taking into account cash flow hedges, the weighted average effective maturity of FHLB advances at September 30, 2021 is 5.03 years.
 
Financial information pertaining to the weighted-average cost and the amount of FHLB advances were as follows.
 
202120202019
 ($ in thousands)
Weighted average interest rate, including cash flow hedges, at end of year1.51 %1.79 %2.49 %
Weighted daily average interest rate, including cash flow hedges, during the year1.98 %2.03 %2.69 %
Daily average of FHLB advances during the year$2,234,027 $2,532,596 $2,533,890 
Maximum amount of FHLB advances at any month end$2,700,000 $3,050,000 $2,665,000 
Interest expense during the year (including swap interest income and expense)$44,188 $51,445 $68,190 
 

The Bank has a credit line with the 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.