Borrowings (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Borrowings

The following table summarizes our borrowings at the dates indicated.

	At December 31,
	2014					2013
(Dollars in Thousands)	Amount		Weighted Average Rate			Amount		Weighted Average Rate
Federal funds purchased	$	455,000		0.31	%	$	335,000		0.28	%
Reverse repurchase agreements	1,100,000			3.62		1,100,000			3.87
FHLB-NY advances	2,384,000			1.72		2,454,000			1.79
Other borrowings, net	248,691			5.00		248,161			5.00
Total borrowings, net	$	4,187,691		2.26	%	$	4,137,161		2.41	%

Reverse Repurchase Agreements

The following table summarizes information relating to reverse repurchase agreements.

	At or For the Year Ended December 31,
(Dollars in Thousands)	2014			2013			2012
Average balance during the year	$	1,100,000		$	1,100,000		$	1,422,678
Maximum balance at any month end during the year	1,100,000			1,100,000			1,700,000
Balance outstanding at end of year	1,100,000			1,100,000			1,100,000
Weighted average interest rate during the year	3.82		%	4.06		%	4.28		%
Weighted average interest rate at end of year	3.62			3.87			4.32

Contractual Maturities of Reverse Repurchase Agreements

The following table details the contractual maturities of our reverse repurchase agreements at December 31, 2014.

Year		Amount
	(In Thousands)
2018		$	200,000	(1	)
2019		600,000		(1	)
2020		300,000		(2	)
Total		$	1,100,000

(1) Callable in 2015.

(2) Includes $100.0 million of borrowings which are callable in 2015, $100.0 million of borrowings which are callable in 2016 and $100.0 million of borrowings which are callable in 2017.

FHLB-NY Advances

The following table summarizes information relating to FHLB-NY advances.

	At or For the Year Ended December 31,
(Dollars in Thousands)	2014			2013			2012
Average balance during the year	$	2,332,718		$	2,512,425		$	2,765,985
Maximum balance at any month end during the year	2,617,000			2,881,000			3,215,000
Balance outstanding at end of year	2,384,000			2,454,000			2,897,000
Weighted average interest rate during the year	1.78		%	2.00		%	2.24		%
Weighted average interest rate at end of year	1.72			1.79			2.07

Contractual Maturities of FHLB-NY Advances

The following table details the contractual maturities of FHLB-NY advances at December 31, 2014.

Year	Amount
	(In Thousands)
2015		$	984,000	(1	)
2016		550,000
2020		850,000		(2	)
Total		$	2,384,000

(1) Includes $209.0 million of borrowings due overnight, $475.0 million of borrowings due in less than 30 days and $300.0 million of borrowings due after 90 days.

(2) Callable in 2017.

Interest Expense on Borrowings

The following table summarizes interest expense on borrowings for the years indicated.

	For the Year Ended December 31,
(In Thousands)	2014		2013		2012
Federal funds purchased	$	1,139	$	587	$	—
Reverse repurchase agreements	42,626		45,272		61,855
FHLB-NY advances	41,911		50,654		62,675
Other borrowings	13,031		17,398		29,689
Total interest expense on borrowings	$	98,707	$	113,911	$	154,219