Borrowed Funds (Tables)

3 Months Ended

Mar. 31, 2012

Borrowed Funds (Tables) [Abstract]

Borrowed funds

Borrowed funds at March 31, 2012 and December 31, 2011 are summarized as follows:

	March 31, 2012					December 31, 2011
	Principal		Weighted Average Rate			Principal		Weighted Average Rate
	(Dollars in thousands)
Securities sold under agreements to repurchase:
FHLB	$	800,000		4.53	%	$	800,000		4.53	%
Other brokers		6,150,000		4.44			6,150,000		4.44
Total securities sold under agreements to repurchase		6,950,000		4.45			6,950,000		4.45
Advances from the FHLB		7,225,000		3.68			8,125,000		3.39
Total borrowed funds	$	14,175,000		4.06	%	$	15,075,000		3.87	%
Accrued interest payable	$	66,565				$	66,252

Average balances of borrowings and maximum amount outstanding at any month end

The average balances of borrowings and the maximum amount outstanding at any month-end are as follows:

	March 31, 2012			December 31, 2011
	(Dollars in thousands)
Repurchase Agreements:
Average balance outstanding during the period	$	6,950,000		$	9,127,800
Maximum balance outstanding at any month-end during the period	$	6,950,000		$	14,750,000
Weighted average rate during the period		4.52	%		4.37	%
FHLB Advances:
Average balance outstanding during the period	$	7,774,195		$	13,349,342
Maximum balance outstanding at any month-end during the period	$	7,875,000		$	14,875,000
Weighted average rate during the period		3.55	%		3.44	%

Borrowed funds maturities and potential put dates

	Borrowings by Scheduled					Borrowings by Earlier of Scheduled
	Maturity Date					Maturity or Next Potential Put Date
			Weighted					Weighted
			Average					Average
Year	Principal		Rate			Principal		Rate
	(Dollars in thousands)
2012	$	2,000,000		0.84	%	$	4,675,000		2.88	%
2013		—		—			1,325,000		4.69
2014		—		—			3,725,000		4.47
2015		75,000		4.62			275,000		4.10
2016		3,925,000		4.92			3,925,000		4.92
2017		2,475,000		4.37			—		—
2018		700,000		3.65			250,000		3.10
2019		1,725,000		4.62			—		—
2020		3,275,000		4.53			—		—
Total	$	14,175,000		4.06	%	$	14,175,000		4.06	%