Borrowed Funds

Borrowed funds at December 31, 2015 and 2014 are summarized as follows (in thousands):



	2015		2014
Securities sold under repurchase agreements	$	261,350	246,571
FHLB line of credit	96,000		73,000
FHLB advances	1,350,282		1,190,280
	$	1,707,632	1,509,851

FHLB advances are at fixed rates and mature between January 2016 and April 2022. These advances are secured by loans receivable and investment securities under a blanket collateral agreement.

Scheduled maturities of FHLB advances at December 31, 2015 are as follows (in thousands):



	2015
Due in one year or less	$	250,166
Due after one year through two years	277,318
Due after two years through three years	290,010
Due after three years through four years	314,334
Due after four years through five years	188,454
Thereafter	30,000
	$	1,350,282

Scheduled maturities of securities sold under repurchase agreements at December 31, 2015 are as follows (in thousands):



	2015
Due in one year or less	$	181,350
Due after one year through two years	25,000
Due after two years through three years	20,000
Due after three years through four years	35,000
Due after four years through five years	—
Thereafter	—
	$	261,350

The following tables set forth certain information as to Borrowed Funds for the years ended December 31, 2015 and 2014 (in thousands):



	Maximum balance		Average balance	Weighted average interest rate
2015:
Securities sold under repurchase agreements	$	346,361	273,934	1.49	%
FHLB line of credit	160,000		80,847	0.40
FHLB advances	1,363,122		1,249,193	1.84
2014:
Securities sold under repurchase agreements	$	255,633	245,260	1.72	%
FHLB line of credit	180,000		104,121	0.37
FHLB advances	1,190,280		989,245	2.08

Securities sold under repurchase agreements include wholesale borrowing arrangements, as well as arrangements with deposit customers of the Bank to sweep funds into short-term borrowings. The Bank uses securities available for sale to pledge as collateral for the repurchase agreements.