Borrowings (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Summary of borrowings

The following table summarizes our borrowings at the dates indicated.

	At December 31,
	2015					2014
(Dollars in Thousands)	Amount		Weighted Average Rate			Amount		Weighted Average Rate
Federal funds purchased	$	435,000		0.57	%	$	455,000		0.31	%
Reverse repurchase agreements	1,100,000			3.62		1,100,000			3.62
FHLB-NY advances	2,180,000			1.86		2,384,000			1.72
Other borrowings, net	249,222			5.00		248,691			5.00
Total borrowings, net	$	3,964,222		2.40	%	$	4,187,691		2.26	%

Summary of information relating to reverse repurchase agreements

The following table summarizes information relating to reverse repurchase agreements.

	At or For the Year Ended December 31,
(Dollars in Thousands)	2015			2014			2013
Average balance during the year	$	1,100,000		$	1,100,000		$	1,100,000
Maximum balance at any month end during the year	1,100,000			1,100,000			1,100,000
Balance outstanding at end of year	1,100,000			1,100,000			1,100,000
Weighted average interest rate during the year	3.62		%	3.82		%	4.06		%
Weighted average interest rate at end of year	3.62			3.62			3.87

Schedule of contractual maturities of reverse repurchase agreements

The following table details the contractual maturities of our reverse repurchase agreements at December 31, 2015.

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

(1) Callable in 2016.

(2) Includes $200.0 million of borrowings which are callable in 2016 and $100.0 million of borrowings which are callable in 2017.

Summary of information relating to FHLB-NY Advances

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

	At or For the Year Ended December 31,
(Dollars in Thousands)	2015			2014			2013
Average balance during the year	$	2,250,592		$	2,332,718		$	2,512,425
Maximum balance at any month end during the year	2,515,000			2,617,000			2,881,000
Balance outstanding at end of year	2,180,000			2,384,000			2,454,000
Weighted average interest rate during the year	1.79		%	1.78		%	2.00		%
Weighted average interest rate at end of year	1.86			1.72			1.79

Schedule of contractual maturities of FHLB-NY advances

The following table details the contractual maturities of FHLB-NY advances at December 31, 2015.

Year	Amount
	(In Thousands)
2016		$	1,330,000	(1	)
2020		850,000		(2	)
Total		$	2,180,000

(1) Includes $210.0 million of borrowings due overnight, $220.0 million of borrowings due in less than 30 days, $225.0 million of borrowings due after 30 to 90 days and $675.0 million of borrowings due after 90 days.

(2) Callable in 2017.

Summary of interest expense on borrowings

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

	For the Year Ended December 31,
(In Thousands)	2015		2014		2013
Federal funds purchased	$	1,590	$	1,139	$	587
Reverse repurchase agreements	40,373		42,626		45,272
FHLB-NY advances	40,790		41,911		50,654
Other borrowings	13,031		13,031		17,398
Total interest expense on borrowings	$	95,784	$	98,707	$	113,911