Washington Mutual Bank in California is by far the largest user of Federal Home Loan Bank advances, according to a mid-year report on the FHLBanks. WaMu held a huge $52.95 billion in advances as of June 30 – a volume that represented 11.5 percent of total system advances outstanding. In a distant second place was California Federal Bank in California with $18.59 billion in advances and a 4 percent share of total advances.