Short-term Borrowings

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Short-term Borrowings

Short-term Borrowings 

The Bank has a line of credit commitment from the FHLB for borrowings and letters of credit up to $799.0 million and certain qualifying assets of the Bank collateralize the line. There was $333.5 million outstanding with a weighted-average interest rate of 0.29% at December 31, 2014 and $277.8 million outstanding with a weighted-average interest rate of 0.24% at December 31, 2013 on this line of credit. In addition there was $50.1 million and $75.1 million of letters of credit outstanding at December 31, 2014 and December 31, 2013, respectively. At December 31, 2014, $554.3 million of loans collateralized the outstanding balance and the letters of credit. In addition, the Bank has available a $15.0 million federal funds line of credit with one correspondent bank and a $20.0 million federal funds line of credit with another correspondent bank. As of December 31, 2014 and 2013, the outstanding balance on both of these lines was $0.