FEDERAL HOME LOAN BANK ADVANCES

12 Months Ended

Dec. 31, 2011

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES

17.         FEDERAL HOME LOAN BANK ADVANCES

              FHLB advances and their related weighted average interest rates are summarized as follows:

	December 31, 2011					December 31, 2010
Year of Maturity	Amount		Rate			Amount		Rate
	(Dollars in thousands)
2011	$	—		—	%	$	246,046		0.97	%
2012		—		—	%		100,000		1.03	%
2013		78,683		4.43	%		186,546		4.55	%
2014		52,656		4.43	%		53,800		4.43	%
2015		21,557		4.46	%		216,616		4.46	%
After 2015		302,355		4.04	%		411,140		4.16	%
Total	$	455,251		4.17	%	$	1,214,148		3.38	%

              Total outstanding FHLB advances amounted to $455.3 million and $1.21 billion at December 31, 2011 and 2010, respectively. Of these amounts, there were no outstanding overnight borrowings at December 31, 2011, and $200.0 million overnight borrowings at December 31, 2010. All advances as of December 31, 2011 and December 31, 2010 are at fixed interest rates and are secured by real estate loans.

              The Company's available borrowing capacity from unused FHLB advances totaled $3.61 billion and $2.23 billion at December 31, 2011 and 2010, respectively. The Company's available borrowing capacity from FHLB advances is derived from its outstanding FHLB advances and from its portfolio of loans that are pledged to the FHLB. During 2011, long-term FHLB advances totaling $523.5 million were prepaid, with a related $11.8 million in prepayment penalties. In comparison, we prepaid $1.12 billion of FHLB advances, with a related $13.8 million in prepayment penalties during 2010. Additionally, at December 31, 2011 and 2010, the Company had additional available borrowing capacity of $1.02 billion and $588.8 million, respectively, from the Federal Reserve Bank's discount window derived from its portfolio of loans that are pledged to the Federal Reserve Bank.