Short-term Borrowings (Tables)

9 Months Ended

Sep. 30, 2017

Short-term borrowings

Schedule of short-term borrowings

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

	September 30,		December 31,
	2017		2016
Federal funds purchased	$	72,000	$	87,125
Securities sold under agreements to repurchase		611,701		195,164
Federal Home Loan Bank		650,000		1,000,000
Short-term bank loans		143,500		135,000
	$	1,477,201	$	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).

	Nine Months Ended September 30,
	2017			2016
Average balance during the period	$	549,425		$	351,430
Average interest rate during the period		0.98	%		0.55	%
	September 30,			December 31,
	2017			2016
Average interest rate at end of period		1.10	%		0.42	%
Securities underlying the agreements at end of period:
Carrying value	$	621,429		$	209,877
Estimated fair value	$	648,517		$	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).

	Nine Months Ended September 30,
	2017			2016
Average balance during the period	$	435,531		$	303,011
Average interest rate during the period		1.05	%		0.45	%
		September 30,			December 31,
		2017			2016
Average interest rate at end of period		1.22	%		0.55	%