v2.4.0.6
Federal Home Loan Bank and Federal Reserve Bank Borrowings (Tables)
12 Months Ended
Dec. 31, 2011
Debt Instrument [Line Items]  
Schedule of Financial Instruments Owned and Pledged as Collateral
The following table summarizes, as of December 31, 2011 and 2010, the carrying value of securities pledged as collateral to secure public deposits, borrowings and other purposes as permitted or required by law: 
 
 
December 31, 2011
 
December 31, 2010
 
 
(in thousands)
To Washington and Oregon State to secure public deposits
 
$
225,345

 
$
153,328

To Federal Home Loan Bank to secure advances
 
91,097

 
110,780

To Federal Reserve Bank to secure borrowings
 
56,347

 
149,315

Other securities pledged
 
47,454

 
45,109

Total securities pledged as collateral
 
$
420,243

 
$
458,532

Federal Home Loan Bank Advances [Member]
 
Debt Instrument [Line Items]  
Debt Instrument Activity For Year
The maximum, average outstanding and year-end balances and average interest rates on advances from the FHLB were as follows for the years ended December 31, 2011, 2010 and 2009:
 
 
 
Years ended December 31,
 
 
2011
 
2010
 
2009
 
 
(dollars in thousands)
Balance at end of year
 
$
119,009

 
$
119,405

 
$
100,000

Average balance during the year
 
$
120,419

 
$
123,685

 
$
111,211

Maximum month-end balance during the year
 
$
127,426

 
$
154,916

 
$
178,000

Weighted average rate during the year
 
2.76
%
 
2.75
%
 
2.38
%
Weighted average rate at December 31
 
2.81
%
 
2.81
%
 
2.49
%
Schedule of Financial Instruments Owned and Pledged as Collateral
FHLB advances are collateralized by the following:
 
 
 
December 31,
 
 
2011
 
2010
 
 
(in thousands)
Fair value of investment securities
 
$
77,414

 
$
96,496

Recorded value of blanket pledge on loans receivable
 
462,040

 
426,555

Total
 
$
539,454

 
$
523,051

FHLB Borrowing Capacity
 
$
419,115

 
$
402,048

Federal Home Loan Bank Fixed Rate Advances [Member]
 
Debt Instrument [Line Items]  
Schedule of Maturities of Long-term Debt
At December 31, 2011 FHLB advances were scheduled to mature as follows:
 
 
 
Federal Home Loan Bank Advances
Fixed rate advances
 
 
Wtd Avg Rate
 
Amount
 
 
(dollars in thousands)
Within 1 year
 
4.22
%
 
$
8,000

Over 1 through 5 years
 
2.54
%
 
103,694

Over 5 through 10 years
 
5.30
%
 
1,416

Due after 10 years
 
5.37
%
 
5,000

Total
 
118,110

Valuation adjustment from acquisition accounting
 
899

Total
 
$
119,009

Federal Reserve Bank Advances [Member]
 
Debt Instrument [Line Items]  
Debt Instrument Activity For Year
The maximum, average outstanding and year-end balances and average interest rates on advances from the Federal Reserve Bank were as follows for the years ended December 31, 2011, 2010 and 2009:
 
 
 
Years ended December 31,
 
 
2011
 
2010
 
2009
 
 
(dollars in thousands)
Balance at end of year
 
$

 
$

 
$

Average balance during the year
 
$

 
$

 
$
38,205

Maximum month-end balance during the year
 
$

 
$

 
$
100,000

Weighted average rate during the year
 
%
 
%
 
0.30
%
Weighted average rate at December 31
 
N/A

 
N/A

 
N/A

Schedule of Financial Instruments Owned and Pledged as Collateral
Federal Reserve Bank advances are collateralized by the following:
 
 
 
December 31,
 
 
2011
 
2010
 
 
(in thousands)
Fair value of investment securities
 
$
53,122

 
$
135,966

Recorded value of pledged commercial loans
 
351,322

 
313,452

Total
 
$
404,444

 
$
449,418

Federal Reserve Bank borrowing capacity
 
$
404,444

 
$
449,418