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Borrowings | 12 Months Ended
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Dec. 31, 2017
Federal Home Loan Banks [Abstract] |
Borrowings | Borrowings Borrowings consisted of the following:
| As of December 31,
| 2017 |  | 2016
| (In thousands)
FHLB advances | $ | 150,000 |  |  | $ | 315,000 |
Total FHLB advances | $ | 150,000 |  |  | $ | 315,000 |
FHLB advances represent collateralized obligations with the FHLB. The following is a summary of contractual maturities pertaining to FHLB advances:
Year of Maturity | Amount |  | Weighted- Average Interest Rate
| (In thousands)
2018 | $ | 150,000 |  |  | 1.41 | %
Total | $ | 150,000 |  |  | 1.41 | %
The following is financial data pertaining to overnight FHLB advances:
| As of December 31,
| 2017 |  | 2016 |  | 2015
| (In thousands)
Weighted-average interest rate at end of year | 1.41 | % |  | 0.55 | % |  | 0.27 | %
Weighted-average interest rate during the year | 0.90 | % |  | 0.45 | % |  | 0.20 | %
Average balance of FHLB advances | $ | 119,041 |  |  | $ | 196,708 |  |  | $ | 38,110 |
Maximum amount outstanding at any month-end | $ | 330,000 |  |  | $ | 320,000 |  |  | $ | 180,000 |
We have pledged loans receivable with market values of $1.1 billion as collateral with the FHLB for this borrowing facility. The total borrowing capacity available from the collateral that has been pledged is $802.9 million, of which $652.9 million remained available as of December 31, 2017. At December 31, 2017, we had $8.5 million available for use through the Fed Discount Window, as we pledged securities with carrying values of $9.0 million, and there were no borrowings. At December 31, 2017, advances from the FHLB were $150.0 million, a decrease of $165.0 million from $315.0 million at December 31, 2016, and all FHLB advances were overnight borrowings at December 31, 2017. For the years ended December 31, 2017, 2016 and 2015 interest expense on FHLB advances were $1.1 million, $879,000 and $76,000, respectively, and the weighted-average interest rates were 0.90 percent, 0.45 percent and 0.20 percent, respectively.

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- Definition The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13(a)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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