Borrowings

The Company’s repurchase agreements amounted to $397,107,000 and $313,394,000 at December 31, 2014 and 2013, respectively, are short-term in nature, and are secured by residential mortgage-backed securities with carrying values of $523,855,000 and $398,447,000, respectively. Securities are pledged to customers at the time of the transaction in an amount at least equal to the outstanding balance and is held in custody accounts by third parties. The fair value of collateral is continually monitored and additional collateral is provided as deemed appropriate.

The Company’s FHLB advances bear a fixed rate of interest and are subject to restrictions or penalties in the event of prepayment. The advances are collateralized by specifically pledged loans and investment securities, FHLB stock owned by the Company, and a blanket assignment of the unpledged qualifying loans and investments. The scheduled maturities of FHLB advances consist of the following:



	December 31, 2014				December 31, 2013
(Dollars in thousands)	Amount		Weighted Rate		Amount		Weighted Rate
Maturing within one year	$	93,979	2.81	%	$	559,084	0.24	%
Maturing one year through two years	45,042		2.99	%	77,979		3.36	%
Maturing two years through three years	—		—	%	45,042		2.99	%
Maturing three years through four years	20,250		2.83	%	—		—	%
Maturing four years through five years	174		4.74	%	20,250		2.83	%
Thereafter	137,499		3.12	%	137,827		3.12	%
Total	$	296,944	2.98	%	$	840,182	1.21	%

With respect to $275,000,000 of FHLB advances at December 31, 2014, FHLB holds put options that will be exercised on the quarterly measurement date when 3-month LIBOR is 8 percent or greater. The FHLB put option maturities range from 2015 to 2021 and the interest rates range from 2.73 percent to 3.64 percent.

The Company’s remaining borrowings consisted of capital lease obligations, liens on OREO and other debt obligations through consolidation of certain VIEs. At December 31, 2014, the Company had $255,000,000 in unsecured lines of credit which are typically renewed on an annual basis with various correspondent entities.