FEDERAL HOME LOAN BANK ADVANCES (Tables)

12 Months Ended

Dec. 31, 2013

FEDERAL HOME LOAN BANK ADVANCES

Federal Home Loan Bank Advances

December 31, (in thousands)	2013		2012
Fixed interest rate advances with a weighted average interest rate of 2.03% due through 2023	$	505,000	$	442,600
Putable fixed interest rate advances with a weighted average interest rate of 4.39% due through 2017(1)	100,000		100,000
Total FHLB advances	$	605,000	$	542,600

(1) - Represents putable advances with the FHLB. These advances have original fixed rate periods ranging from one to five years with original maturities ranging from three to ten years if not put back to the Bank earlier by the FHLB. At the end of their respective fixed rate periods and on a quarterly basis thereafter, the FHLB has the right to require payoff of the advances by the Bank at no penalty. Based on market conditions at this time, the Bank does not believe that any of its putable advances are likely to be “put back” to the Bank in the short-term by the FHLB.

Aggregate Future Principal Payments on FHLB Advances

Year	(in thousands)		Weighted Average Rate
2014	$	188,000	2.69	%
2015	10,000		2.48	%
2016	82,000		1.74	%
2017	145,000		3.44	%
2018	90,000		1.51	%
Thereafter	90,000		1.75	%
Total	$	605,000	2.42	%

Investment Securities Pledged

December 31, (in thousands)	2013		2012
First lien, single family residential real estate	$	1,082,624	$	1,053,946
Home equity lines of credit	105,957		116,043
Multi-family commercial real estate	13,124		7,017