Short-Term Borrowings and Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2017

The following table represents outstanding short-term borrowings and long-term debt at December 31, 2017 and 2016:



				Carrying Value
(Dollars in thousands)	Maturity	Principal value at December 31, 2017		December 31, 2017		December 31, 2016
Short-term borrowings:
Short-term FHLB advances	January 2, 2018	$	700,000	$	700,000	$	500,000
Federal funds purchased	January 2, 2018	330,000		330,000		—
Other short-term borrowings	(1)	3,730		3,730		12,668
Total short-term borrowings				$	1,033,730	$	512,668
Long-term debt:
3.50% Senior Notes	January 29, 2025	$	350,000	$	347,303	$	346,979
5.375% Senior Notes	September 15, 2020	350,000		348,189		347,586
6.05% Subordinated Notes	(2)	—		—		46,646
7.0% Junior Subordinated Debentures	(3)	—		—		54,493
Total long-term debt				$	695,492	$	795,704


(1)	Represents cash collateral received from certain counterparties in relation to market value exposures of derivative contracts in our favor.


(2)	Our 6.05% Subordinated Notes were repaid on June 1, 2017 and the interest rate swap agreement related to this issuance was terminated upon repayment of the 6.05% Subordinated Notes. At December 31, 2016, included in the carrying value of our 6.05% Subordinated Notes were $0.8 million related to hedge accounting associated with the notes.


(3)	On December 21, 2017, we redeemed in full the outstanding aggregate principal amount of $51.5 million of our 7.0% Junior Subordinated Debentures due October 15, 2033, relating to our 7.0% Cumulative Trust Preferred Securities issued by SVB Capital II.

The aggregate annual maturities of long-term debt obligations as of December 31, 2017 are as follows:



Year ended December 31, (Dollars in thousands):	Amount
2018	$	—
2019	—
2020	348,189
2021	—
2022	—
2023 and thereafter	347,303
Total	$	695,492