Federal Funds Purchased and Securities Sold under Agreements to Repurchase and Wholesale Borrowings

The following table presents the components of federal funds purchased and securities sold under agreements to repurchase and wholesale borrowings:



	As of December 31,
	2011		2010
Federal funds purchased and securities sold under agreements to repurchase	$	866,265	$	777,585
Wholesale borrowings
FHLB advances	$	203,068	$	325,560
Other	394		447
Total wholesale borrowings	$	203,462	$	326,007

Securities sold under agreements to repurchase are secured by securities with a carrying value of $902.3 million and $836.4 million at December 31, 2011 and December 31, 2010, respectively. Securities sold under agreements to repurchase have an overnight maturity at December 31, 2011. Selected financial statement information pertaining to the securities sold under agreements to repurchase is as follows:



	As of December 31,
	2011			2010			2009
Federal funds purchased and securities sold under agreements to repurchase
Average balance during the year	$	925,803		$	907,015		$	1,013,167
Weighted-average annual interest rate during the year	0.36		%	0.49		%	0.47		%
Maximum month-end balance	$	1,014,720		$	1,034,200		$	1,350,475

FHLB advances were secured by loans totaling $4.7 billion at December 31, 2011 and $4.6 billion at December 31, 2010. The FHLB advances have interest rates that range from 1.48% to 4.75% as of December 31, 2011. Selected financial statement information pertaining to wholesale borrowings is as follows:



	As of December 31,
	2011			2010			2009
Wholesale borrowings
Average balance during the year	$	298,835		$	510,790		$	952,979
Weighted-average annual interest rate during the year	2.11		%	2.74		%	2.87		%
Maximum month-end balance	$	327,997		$	716,091		$	1,159,181

The following table illustrates the contractual maturities of the Corporation’s wholesale borrowings at December 31, 2011:



	One Year		One to		Three to		Over Five
	or Less		Three Years		Five Years		Years		Total
Wholesale Borrowings
FHLB advances	$	50,000	$	39,524	$	78,019	$	35,525	$	203,068
Other	57		123		139		75		394
Total wholesale borrowings	$	50,057	$	39,647	$	78,158	$	35,600	$	203,462

Lines of Credit. As of December 31, 2011, the Corporation has two lines of credit with financial institutions. The terms of each line of credit are described as follows:

The Corporation had a $15.0 million line of credit with a financial institution with no outstanding balance as of December 31, 2011 and 2010. The line carries two interest rate options: one month London Inter-Bank Offered Rate ("LIBOR") plus 200 basis points; or the greater of the prime lending rate of the financial institution or the Federal Funds Open Rate plus 50 basis points.

The Corporation had a $15.0 million line of credit with a financial institution with no outstanding balance as of December 31, 2011 and 2010. The line carries two interest rate options: one month LIBOR plus 175 basis points; or the greater of the prime lending rate of the financial institution and the sum of the Federal Funds Open Rate plus 50 basis points or the sum of the daily LIBOR Rate plus 100 basis points.