CASH 2017 Annual Report

126 NOTE 8. TIME CERTIFICATES OF DEPOSITS Time certificates of deposits in denominations of $250,000 or more were approximately $85.2 million and $44.5 million at September 30, 2017, and 2016, respectively. At September 30, 2017, the scheduled maturities of time certificates of deposits were as follows for the years ending: As of September 30, (Dollars in Thousands) 2018 $ 560,825 2019 10,943 2020 5,158 2021 2,412 2022 2,227 Thereafter — Total Certificates (1) $ 581,565 (1) As of September 30, 2017, total certificates of deposits included $457.9 million of brokered certificates of deposits, which are recored in Wholesale deposits on the consolidated statements of financial condition. Under the Dodd-Frank Act, IRAand non-IRAdeposit accounts are permanently insured up to $250,000 by the DIF under management of the FDIC. NOTE 9. SHORT TERM DEBT AND LONG TERM DEBT Short Term Debt September 30, 2017 2016 Overnight federal funds purchased $ 987,000 $ 992,000 Short-term FHLB advances 415,000 100,000 Short-term capital lease 62 79 Repurchase agreements 2,472 3,039 Total 1,404,534 1,095,118 The Company had $987.0 million of overnight federal funds purchased from the FHLB as of September 30, 2017. The Company had $992.0 million in overnight federal funds purchased from the FHLB at September 30, 2016. At September 30, 2017, the Company’s short-term advances from the FHLB totaled $415.0 million and carried a net weighted average rate of 1.27%. The Company had $100.0 million in short-term advances from the FHLB at September 30, 2016. The Bank has executed blanket pledge agreements whereby the Bank assigns, transfers, and pledges to the FHLB and grants to the FHLB a security interest in all mortgage collateral and securities collateral. The Bank has the right to use, commingle, and dispose of the collateral it has assigned to the FHLB. Under the agreement, the Bank must maintain “eligible collateral” that has a “lending value” at least equal to the “required collateral amount,” all as defined by the agreement. At fiscal year-end 2017 and 2016, the Bank pledged securities with fair values of approximately $1.07 billion and $824.5 million, respectively, against specific FHLB advances. In addition, qualifying mortgage loans of approximately $628.0 million, and $501.0 million were pledged as collateral at September 30, 2017, and 2016, respectively. As of September 30, 2017, the Company had three capital leases, two equipment leases and one property lease. At September 30, 2017, the portion of the liability expected to be expensed and amortized over the next 12 months is approximately $79,507.