Federal Funds Purchased and Securities Sold Under Agreements to Repurchase

12 Months Ended

Dec. 31, 2014

Federal Funds Purchased and Securities Sold under Agreements to Repurchase [Abstract]

Federal Funds Purchased And Securities Sold Under Agreements to Repurchase

Federal Funds Purchased and Securities Sold under Agreements to Repurchase

The following table presents federal funds purchased and securities sold under agreements to repurchase as of December 31, 2014 and 2013.

	As of December 31,
(In thousands)	2014		2013
Federal funds purchased and securities sold under agreements to repurchase	$	1,272,591	$	851,535

Securities sold under agreements to repurchase are secured by securities with a carrying value of $888.4 million and $1.0 billion at December 31, 2014 and 2013, respectively. Securities sold under agreements to repurchase have an overnight maturity at December 31, 2014.

Selected financial statement information pertaining to the securities sold under agreements to repurchase is as follows:

	As of December 31,
(Dollars in thousands)	2014			2013			2012
Average balance during the year	$	1,084,532		$	949,068		$	949,756
Weighted-average annual interest rate during the year	0.09		%	0.13		%	0.12		%
Maximum month-end balance	$	1,289,460		$	1,123,795		$	1,104,525