CASH 2017 Annual Report

27 The following table shows rate and maturity information for the Company’s certificates of deposit as of September 30, 2017. Variable 0.00- 0.99% 1.00 - 1.99% 2.00 - 2.99% Total Percent of Total (Dollars in Thousands) Certificate accounts maturing in quarter ending: December 31, 2017 34 42,083 174,877 — $ 216,994 37.3% March 31, 2018 18 2,093 298,302 — 300,413 51.7% June 30, 2018 8 4,700 35,743 — 40,451 7.0% September 30, 2018 26 1,324 1,617 — 2,967 0.5% December 31, 2018 9 2,673 3,417 — 6,099 1.1% March 31, 2019 8 498 831 — 1,337 0.2% June 30, 2019 — 1,386 1,620 — 3,006 0.5% September 30, 2019 — 501 — — 501 0.1% December 31, 2019 — 1,647 1,397 7 3,051 0.5% March 31, 2020 — 269 36 — 305 0.1% June 30, 2020 — 829 757 — 1,586 0.3% September 30, 2020 — 135 82 — 217 —% Thereafter — 607 3,714 317 4,638 0.8% Total $ 103 $ 58,745 $ 522,393 $ 324 $ 581,565 100.0% Percent of total —% 10.1% 89.8% 0.1% 100.0% The following table indicates the amount of the Company’s certificates of deposit and other deposits by time remaining until maturity as of September 30, 2017. Maturity 3 Months or Less After 3 to 6 Months After 6 to 12 Months After 12 Months Total (Dollars in Thousands) Certificates of deposit less than $250,000 $ 193,317 $ 257,999 $ 26,928 $ 18,117 $ 496,361 Certificates of deposit of $250,000 or more 23,677 42,414 16,490 2,623 $ 85,204 Total certificates of deposit $ 216,994 $ 300,413 $ 43,418 $ 20,740 $ 581,565 At September 30, 2017, there were $80.4 million in deposits from governmental and other public entities included in certificates of deposit. Borrowings . Although deposits are the Company’s primary source of funds, the Company’s practice has been to utilize borrowings when they are a less costly source of funds, can be invested at a positive interest rate spread, or when the Company desires additional capacity to fund loan demand. Borrowings from various sources mature based on stated payment schedules. The Company’s borrowings have historically consisted primarily of advances from the FHLB upon the security of a blanket collateral agreement of a percentage of unencumbered loans and the pledge of specific investment securities. Such advances can be made pursuant to several different credit programs, each of which has its own interest rate and range of maturities. At September 30, 2017, the Bank had $415.0 million of term advances, $987.0 million of overnight borrowings and the ability to borrow up to an approximate additional $0.4 million from the FHLB. During the fourth quarter of fiscal 2017, the Company incurred a $0.8 million prepayment expense related to the early extinguishment of longer term FHLB debt, which had a balance of $7.0 million at a weighted average interest rate of 6.98%.