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Securities Sold Under Repurchase Agreements
 12 Months Ended
Dec. 31, 2011
Securities Sold Under Repurchase Agreements  
Securities Sold Under Repurchase Agreements

(8) Securities Sold Under Repurchase Agreements

        The Company's bank subsidiaries have entered into repurchase agreements with an investment banking firm and individual customers of the bank subsidiaries. The purchasers have agreed to resell to the bank subsidiaries identical securities upon the maturities of the agreements. Securities sold under repurchase agreements were mortgage-backed book entry securities and averaged $1,415,769,000 and $1,479,734,000 during 2011 and 2010, respectively, and the maximum amount outstanding at any month end during 2011 and 2010 was $1,437,480,000 and $1,520,714,000, respectively.

        Further information related to repurchase agreements at December 31, 2011 and 2010 is set forth in the following table:

 
   Collateral Securities   Repurchase Borrowing  
 
   Book Value of
Securities Sold 		  Fair Value of
Securities Sold 		  Balance of
Liability 		  Weighted Average
Interest Rate 		 
 
   (Dollars in Thousands)
  

December 31, 2011 term:

                          

Overnight agreements

   $ 377,620   $ 388,304   $ 245,026     .32 %

1 to 29 days

     13,772     14,227     10,263     1.13  

30 to 90 days

     45,512     48,177     30,095     1.12  

Over 90 days

     1,236,021     1,285,811     1,063,245     3.72  
                     

Total

   $ 1,672,925   $ 1,736,519   $ 1,348,629     3.02 %
                   

December 31, 2010 term:

                          

Overnight agreements

   $ 432,252   $ 426,112   $ 311,333     .60 %

1 to 29 days

     26,714     27,177     16,308     1.15  

30 to 90 days

     44,443     45,438     30,167     1.69  

Over 90 days

     1,243,634     1,279,248     1,075,462     3.71  
                   

Total

   $ 1,747,043   $ 1,777,975   $ 1,433,270     2.97 %
                   

        The book value and fair value of securities sold includes the entire book value and fair value of securities partially or fully pledged under repurchase agreements.