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FHLB Borrowings
 3 Months Ended
Mar. 31, 2021
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures [Abstract]  
FHLB Borrowings

Note 10. FHLB Borrowings

The Company’s FHLB borrowings and weighted average interest rates are summarized below:

March 31, 2021

December 31, 2020

Amount

Rate

Amount

Rate

(dollars in thousands)

Total FHLB borrowings

$

359,710

1.11

%

$

425,954

1.07

%

 

By remaining period to maturity:

Less than 1 year

$

297,381

0.93

%

$

297,570

0.84

%

1 year through less than 2 years

34,621

1.24

%

75,644

1.42

%

2 years through less than 3 years

25,000

2.92

%

50,000

1.84

%

3 years through less than 4 years

-

-

-

-

4 years through 5 years

-

-

 

-

-

After 5 years

2,809

2.41

%

 

2,824

2.42

%

Total FHLB borrowings

359,811

1.11

%

426,038

1.07

%

Fair value premium (discount)

(101

)

(84

)

FHLB borrowings, net

$

359,710

$

425,954

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.

Advances are payable at stated maturity, with a prepayment penalty for fixed rate advances. All FHLB advances are fixed rates. The advances as of March 31, 2021 were primarily collateralized by approximately $1.9 billion of commercial mortgage loans, net of required over collateralization amounts, under a blanket lien arrangement. As of March 31, 2021 the Company had remaining borrowing capacity of approximately $1.1 billion at FHLB.