Short-term Borrowings (Tables)

9 Months Ended

Sep. 30, 2018

Short-term borrowings

Schedule of short-term borrowings

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

	September 30,		December 31,
	2018		2017
Federal funds purchased	$	88,075	$	101,775
Securities sold under agreements to repurchase		459,574		539,149
Federal Home Loan Bank		400,000		250,000
Short-term bank loans		269,000		315,500
	$	1,216,649	$	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).

	Nine Months Ended September 30,
	2018			2017
Average balance during the period	$	683,835		$	549,425
Average interest rate during the period		1.76	%		0.98	%
	September 30,			December 31,
	2018			2017
Average interest rate at end of period		2.01	%		1.21	%
Securities underlying the agreements at end of period:
Carrying value	$	474,266		$	581,636
Estimated fair value	$	490,719		$	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).

	Nine Months Ended September 30,
	2018			2017
Average balance during the period	$	253,022		$	435,531
Average interest rate during the period		2.04	%		1.05	%
		September 30,			December 31,
		2018			2017
Average interest rate at end of period		2.33	%		1.30	%