Short-Term Borrowings

12 Months Ended

Dec. 31, 2014

Short-term Debt [Abstract]

Short-term Borrowings

SHORT-TERM BORROWINGS

Short-term borrowings at December 31 are as follows:

(Dollars in thousands)	2014		2013
Master notes	$	410,258	$	411,907
Repurchase agreements	294,426		96,960
Notes payable to Federal Home Loan Banks	80,000		—
Federal funds purchased	2,551		2,551
Subordinated notes payable	199,949		—
Total short-term borrowings	$	987,184	$	511,418

At December 31, 2014, BancShares had unused credit lines allowing contingent access to overnight borrowings of up to $750.0 million on an unsecured basis. Additionally, under borrowing arrangements with the Federal Home Loan Bank of Atlanta, BancShares has access to an additional $1.96 billion on a secured basis. The 1st Financial and Bancorporation mergers effective in January 2014 and October 2014, respectively, added $296.1 million of short-term borrowings, including $218.4 million of repurchase agreements and $77.7 million of other short-term borrowings as of the acquisition date. BancShares had $410.3 million in master notes at December 31, 2014. Master notes are investments used by commercial customers as an investment option through a sweep account and are an unsecured debt obligation of BancShares.