Securities Sold Under Agreements To Repurchase And Other Short-Term Borrowings

12 Months Ended

Dec. 31, 2011

Securities Sold Under Agreements To Repurchase And Other Short-Term Borrowings [Abstract]

Securities Sold Under Agreements To Repurchase And Other Short-Term Borrowings

NOTE 9: Securities Sold Under Agreements to Repurchase and Other Short-Term Borrowings

The following table summarizes securities sold under agreements to repurchase and other short-term borrowings:

	At December 31,
(In thousands)	2011		2010
Securities sold under agreements to repurchase:
Original maturity of one year or less	$	290,856	$	289,144
Callable at the option of the counterparty		400,000		400,000
Non-callable		250,850		150,000
		941,706		839,144
Other short-term borrowings:
Federal funds purchased		223,000		236,500
Treasury, tax and loan		—		15,833
Total	$	1,164,706	$	1,091,477

During 2011 and 2010, securities sold under agreements to repurchase ("repurchase agreements") were also used as a primary source of borrowed funds in addition to FHLB advances. Repurchase agreements are primarily collateralized by U.S. Government agency mortgage-backed securities. The collateral for these repurchase agreements is delivered to broker/dealers. Repurchase agreements with broker/dealers are limited to primary dealers in government securities or commercial and municipal customers through Webster's Treasury Sales desk.

Information concerning repurchase agreements outstanding at December 31, 2011 is presented below:

(Dollars in thousands)	Balance		Fair Value of Collateral		Weighted- Average Rate			Weighted- Average Current Maturity
Maturity
Up to 30 days	$	280,599	$	287,347		0.20	%		3.12 Days
31 to 90 days		5,605		5,873		0.22			1.94 Months
Over 90 days		655,502		748,705		2.24			57.92 Months
Totals	$	941,706	$	1,041,925		1.65	%		39.92 Months

The following table sets forth additional information for short-term borrowings:

	At and for the year ended December 31,
	2011					2010					2009
(Dollars in thousands)	Amount		Rate			Amount		Rate			Amount		Rate
Securities sold under agreements to repurchase:
At end of year	$	290,856		0.20	%	$	289,144		0.25	%	$	270,096		0.41	%
Average during year		310,355		0.22			312,728		0.36			277,447		0.55
Highest month-end balance during year		342,795		—			405,913		—			295,402		—
Federal funds purchased:
At end of year		223,000		0.12			236,500		0.19			—		—
Average during year		122,656		0.14			75,753		0.21			175,934		0.20
Highest month-end balance during year		282,000		—			256,000		—			713,000		—