Borrowed Funds (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Borrowed Funds

The following table summarizes the Company’s borrowed funds at the dates indicated:

(in thousands)	June 30, 2019		December 31, 2018
Wholesale Borrowings:
FHLB advances	$	11,627,661	$	13,053,661
Repurchase agreements		800,000		500,000
Total wholesale borrowings	$	12,427,661	$	13,553,661
Junior subordinated debentures		359,683		359,508
Subordinated notes		294,794		294,697
Total borrowed funds	$	13,082,138	$	14,207,866

Summary of Repurchase Agreements Accounted for Secured Borrowings

The following table summarizes the Company’s repurchase agreements accounted for as secured borrowings at June 30, 2019:

	Remaining Contractual Maturity of the Agreements
(in thousands)	Overnight and Continuous		Up to 30 Days		30–90 Days		Greater than 90 Days
GSE obligations	$	—	$	—	$	—	$	800,000

Junior Subordinated Debentures Outstanding

The following junior subordinated debentures were outstanding at June 30, 2019:

Issuer	Interest Rate of Capital Securities and Debentures			Junior Subordinated Debentures Amount Outstanding		Capital Securities Amount Outstanding		Date of Original Issue	Stated Maturity	First Optional Redemption Date
			(dollars in thousands)
New York Community Capital Trust V (BONUSESSM Units)		6.000	%	$	145,757	$	139,406	Nov. 4, 2002	Nov. 1, 2051	Nov. 4, 2007 (1)
New York Community Capital Trust X		4.010			123,712		120,000	Dec. 14, 2006	Dec. 15, 2036	Dec. 15, 2011 (2)
PennFed Capital Trust III		5.660			30,928		30,000	June 2, 2003	June 15, 2033	June 15, 2008 (2)
New York Community Capital Trust XI		3.969			59,286		57,500	April 16, 2007	June 30, 2037	June 30, 2012 (2)
Total junior subordinated debentures				$	359,683	$	346,906

(1) Callable subject to certain conditions as described in the prospectus filed with the SEC on November 4, 2002.

(2) Callable from this date forward.