Deposits and Borrowings

12 Months Ended

Dec. 31, 2016

5.	DEPOSITS AND BORROWINGS:

Time deposits of $250,000 or more totaled approximately $130,385,000 and $190,386,000 at December 31, 2016 and 2015, respectively.

At December 31, 2016, the scheduled maturities of time deposits (in thousands) were, as follows:


Year ending December 31,
2017	$	419,326
2018		54,713
2019		17,893
2020		9,939
2021		7,093
Thereafter		32

	$	508,996

Deposits received from related parties at December 31, 2016 and 2015 totaled $114,513,000 and $89,006,000, respectively.

Borrowings at December 31, 2016 and 2015 consisted of the following (dollars in thousands):


	December 31,
	2016		2015
Securities sold under agreements with customers to repurchase	$	360,820	$	310,330
Federal funds purchased		9,950		6,325
Advances from Federal Home Loan Bank of Dallas		75,000		299,020

Total	$	445,770	$	615,675

Securities sold under repurchase agreements are generally with significant customers of the Company that require short-term liquidity for their funds for which the Company pledges certain securities that have a fair value equal to at least the amount of the borrowings. The agreements mature daily and therefore the risk arising from a decline in the fair value of the collateral pledged is minimal. The securities pledged are mortgage-backed securities. These agreements do not include “right of set-off” provisions and therefore the Company does not offset such agreements for financial reporting purposes.

At December 31, 2016 and 2015, the Company had advances from the Federal Home Loan Bank of Dallas of $75,000,000 and $299,020,000, respectively, that are scheduled to mature in 2017 and 2018. The interest rate on these advances were 0.46% and 0.31%, respectively, at December 31, 2016 and 2015.