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FHLB Borrowings and Other Borrowings
12 Months Ended
Sep. 30, 2018
Advances from Federal Home Loan Banks [Abstract]  
FHLB Borrowings and Other Borrowings
FHLB Borrowings and Other Borrowings

The Bank has long- and short-term borrowing lines with the FHLB with total credit on the lines equal to 45% of the Bank’s total assets, limited by available collateral.  The Bank had no FHLB borrowings outstanding at September 30, 2018 and 2017.  During the year ended September 30, 2017, the Company incurred a $282,000 prepayment penalty on two $15,000,000 FHLB borrowings that were repaid before their scheduled maturity dates. Under the Advances, Pledge and Security Agreement entered into with the FHLB ("FHLB Borrowing Agreement"), virtually all of the Bank’s assets, not otherwise encumbered, are pledged as collateral for borrowings.

The Bank also has a letter of credit ("LOC") with the FHLB for the purpose of collateralizing Washington State public deposits. The LOC amount reduces the Bank's available borrowings under the FHLB Borrowing Agreement. The LOC had a limit of $23,000,000 as of September 30, 2018, all of which was available to draw upon.

The Bank also maintains a short-term borrowing line with the FRB with total credit based on eligible collateral.  At September 30, 2018 the Bank had a borrowing capacity on this line of $76,703,000. The Bank had no outstanding borrowings on this line at September 30, 2018 and 2017.

The Bank has a short-term $10,000,000 overnight borrowing line with Pacific Coast Bankers' Bank. The borrowing line may be reduced or withdrawn at any time. The Bank had no outstanding borrowings on this line at September 30, 2018 and 2017.