Borrowed Funds (Tables)

9 Months Ended

Sep. 30, 2019

Summary of Borrowed Funds

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

(in thousands)	September 30, 2019		December 31, 2018
Wholesale Borrowings:
FHLB advances	$	12,171,661	$	13,053,661
Repurchase agreements		800,000		500,000
Total wholesale borrowings	$	12,971,661	$	13,553,661
Junior subordinated debentures		359,773		359,508
Subordinated notes		294,926		294,697
Total borrowed funds	$	13,626,360	$	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 September 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 September 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)		6.00	%	$	145,847	$	139,496		Nov. 4, 2002		Nov. 1, 2051		Nov. 4, 2007	(1)
New York Community Capital Trust X		3.72			123,712		120,000		Dec. 14, 2006		Dec. 15, 2036		Dec. 15, 2011	(2)
PennFed Capital Trust III		5.37			30,928		30,000		June 2, 2003		June 15, 2033		June 15, 2008	(2)
New York Community Capital Trust XI		3.75			59,286		57,500		April 16, 2007		June 30, 2037		June 30, 2012	(2)
Total junior subordinated debentures				$	359,773	$	346,996

(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.