XML 31 R19.htm IDEA: XBRL DOCUMENT
v3.7.0.1

FHLB Borrowings | 3 Months Ended
--- | ---
Mar. 31, 2017
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures [Abstract] |
FHLB Borrowings | Note 11 – FHLB Borrowings The Company’s FHLB borrowings and weighted average interest rates are summarized below:
|  | March 31, 2017 |  | December 31, 2016
|  | Amount |  | Rate |  | Amount |  | Rate
|  | (dollars in thousands)
Total FHLB borrowings |  | $ | 476,226 |  | 1.55 | % |  | $ | 461,280 |  | 1.55 | %
By remaining period to maturity: |  |  |  |  |  |  |  |  |  |  |  |
Less than 1 year |  | $ | 281,226 |  | 1.11 | % |  | $ | 231,280 |  | 1.02 | %
1 year through less than 2 years |  |  | 105,000 |  | 1.96 | % |  |  | 130,000 |  | 1.84 | %
2 years through less than 3 years |  |  | 50,000 |  | 1.66 | % |  |  | 35,000 |  | 1.60 | %
3 years through less than 4 years |  |  | 40,000 |  | 3.43 | % |  |  | 65,000 |  | 2.82 | %
Four to five years |  |  | - |  |  |  |  |  | - |  | - |
Total FHLB borrowings |  | $ | 476,226 |  | 1.55 | % |  | $ | 461,280 |  | 1.55 | %
The FHLB borrowings are secured by pledges of certain collateral including, but not limited to, U.S. government and agency mortgage-backed securities and a blanket assignment of qualifying first lien mortgage loans, consisting of both residential mortgages and commercial real estate loans. Three of the FHLB advances ($2.5 million and $7.5 million each due April 2, 2018, and $5.0 million due July 16, 2018) contain a convertible option which allows the FHLB, at quarterly intervals, to convert the fixed convertible advance into replacement funding for the same or lesser principal based on any advance then offered by the FHLB at its current market rate. The Company has the option to repay these advances, if converted, without penalty. The remaining advances are payable at stated maturity, with a prepayment penalty for fixed rate advances. All FHLB advances are fixed rate. The advances at March 31, 2017 were primarily collateralized by approximately $1.3 billion of commercial mortgage loans, net of required over collateralization amounts, under a blanket lien arrangement. At March 31, 2017 the Company had remaining borrowing capacity at FHLB of approximately $748 million.

X
- Definition The entire disclosure for 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration