Short-Term Borrowings

12 Months Ended

Dec. 31, 2015

SHORT-TERM BORROWINGS

Short-term borrowings at December 31 are as follows:



(Dollars in thousands)	2015		2014
Master notes	$	—	$	410,258
Repurchase agreements	592,182		294,426
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	$	594,733	$	987,184

At December 31, 2015, BancShares had unused credit lines allowing contingent access to overnight borrowings of up to $740.0 million on an unsecured basis. Additionally, under borrowing arrangements with the Federal Home Loan Bank of Atlanta, BancShares has access to an additional $5.57 billion on a secured basis. The master notes product, or investments used by commercial customers as an investment option through a sweep account, was discontinued during 2015, resulting in a migration to repurchase agreements. Additionally, $80.0 million in FHLB borrowings and $199.9 million in subordinated debt matured in 2015.