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FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS | 12 Months Ended
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Dec. 31, 2017
Debt Disclosure [Abstract] |
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS | 7. FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS Advances from FHLB totaled $37.9 million at December 31, 2017, with a weighted average interest rate of 2.20 percent. Advances from FHLB totaled $61.8 million at December 31, 2016, with a weighted average interest rate of 2.02 percent. At December 31, 2017 advances totaling $28.9 million, with a weighted average rate of 1.96 percent, have fixed maturity dates. At December 31, 2016 advances totaling $49.8 million, with a weighted average rate of 1.78 percent, have fixed maturity dates. At December 31, 2017, the fixed rate advances are secured by blanket pledges of certain 1-4 family residential mortgages totaling $550.0 million and multifamily mortgages totaling $1.1 billion, while at December 31, 2016 the fixed rate advances are secured by blanket pledges of certain 1-4 family residential mortgages totaling $468.3 million and multifamily totaling $1.2 billion. The Company had $9.0 million of variable rate advances, with a weighted average rate of 2.95 percent and $12.0 million of variable rate advances, with a weighted average rate of 3.01 percent at December 31, 2017 and 2016, respectively. These advances are non-callable for two or three years and then callable quarterly with final maturities of ten years from the original date of the advance. All of these advances are beyond their initial non-callable periods. These advances are secured by pledges of investment securities totaling $13.5 million at December 31, 2017 and $14.6 million at December 31, 2016. The advances have prepayment penalties. The scheduled principal repayments and maturities of advances as of December 31, 2017 are as follows:
(In thousands) |  |  |
2018 |  | $ | 34,898 |
2019 |  |  | 3,000 |
Total |  | $ | 37,898 |
At both December 31, 2017 and December 31, 2016, there were no overnight borrowings with the FHLB. At December 31, 2017, unused short-term or overnight borrowing commitments totaled $1.2 billion from the FHLB, $22.0 million from correspondent banks and $785.6 million at the Federal Reserve Bank.

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- 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
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