Federal Funds Purchased and Securities Sold Under Agreements to Repurchase

12 Months Ended

Dec. 31, 2015

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, 2015 and 2014.

	As of December 31,
(In thousands)	2015		2014
Federal funds purchased and securities sold under agreements to repurchase	$	1,037,075	$	1,272,591

Securities sold under agreements to repurchase are secured by securities with a carrying value of $813.3 million and $888.4 million at December 31, 2015 and 2014, respectively. Securities sold under agreements to repurchase have an overnight maturity at December 31, 2015.

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

	As of December 31,
(Dollars in thousands)	2015			2014			2013
Average balance during the year	$	1,138,307		$	1,084,532		$	949,068
Weighted-average annual interest rate during the year	0.10		%	0.09		%	0.13		%
Maximum month-end balance	$	1,519,250		$	1,289,460		$	1,123,795