Short-term Borrowings (Tables)

6 Months Ended

Jun. 30, 2018

Short-term borrowings

Schedule of short-term borrowings

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

	June 30,		December 31,
	2018		2017
Federal funds purchased	$	78,350	$	101,775
Securities sold under agreements to repurchase		502,885		539,149
Federal Home Loan Bank		675,000		250,000
Short-term bank loans		354,500		315,500
	$	1,610,735	$	1,206,424

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).

	Six Months Ended June 30,
	2018			2017
Average balance during the period	$	721,167		$	500,830
Average interest rate during the period		1.63	%		0.86	%
	June 30,			December 31,
	2018			2017
Average interest rate at end of period		1.74	%		1.21	%
Securities underlying the agreements at end of period:
Carrying value	$	514,378		$	581,636
Estimated fair value	$	531,130		$	598,300

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).

	Six Months Ended June 30,
	2018			2017
Average balance during the period	$	117,956		$	355,249
Average interest rate during the period		1.91	%		0.92	%
		June 30,			December 31,
		2018			2017
Average interest rate at end of period		2.07	%		1.30	%