Short-term Borrowings (Tables)

3 Months Ended

Mar. 31, 2017

Short-term borrowings

Schedule of short-term borrowings

Short-term borrowings are summarized as follows (in thousands).

	March 31,		December 31,
	2017		2016
Federal funds purchased	$	112,350	$	87,125
Securities sold under agreements to repurchase		364,927		195,164
Federal Home Loan Bank		150,000		1,000,000
Short-term bank loans		126,500		135,000
	$	753,777	$	1,417,289

Federal funds purchased and securities sold under agreements to repurchase.

Short-term borrowings

Schedule of short-term borrowings

Information concerning federal funds purchased and securities sold under agreements to repurchase is shown in the following tables (dollars in thousands).

	Three Months Ended March 31,
	2017			2016
Average balance during the period	$	386,624		$	329,392
Average interest rate during the period		0.76	%		0.49	%

	March 31,			December 31,
	2017			2016
Average interest rate at end of period		0.69	%		0.42	%
Securities underlying the agreements at end of period:
Carrying value	$	371,859		$	209,877
Estimated fair value	$	379,390		$	206,641

FHLB notes

Short-term borrowings

Schedule of short-term borrowings

Other information regarding FHLB short-term borrowings is shown in the following tables (dollars in thousands).

	Three Months Ended March 31,
	2017			2016
Average balance during the period	$	180,000		$	234,341
Average interest rate during the period		0.61	%		0.44	%

	March 31,		December 31,
	2017		2016
Average interest rate at end of period	0.90	%	0.55	%