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Other Borrowed Funds
 12 Months Ended
Dec. 31, 2011
Other Borrowed Funds  
Other Borrowed Funds

(9) Other Borrowed Funds

        Other borrowed funds include Federal Home Loan Bank borrowings, which are short and long-term fixed borrowings issued by the Federal Home Loan Bank of Dallas at the market price offered at the time of funding. These borrowings are secured by mortgage-backed investment securities and a portion of the Company's loan portfolio.

        Further information regarding the Company's other borrowed funds at December 31, 2011 and 2010 is set forth in the following table:

 
   December 31,  
 
   2011   2010  
 
   (Dollars in Thousands)
  

Federal Home Loan Bank advances—short-term

              

Balance at year end

   $ 487,500   $ 1,020,000  

Rate on balance outstanding at year end

     .18 %   .18 %

Average daily balance

   $ 733,559   $ 656,365  

Average rate

     .19 %   .19 %

Maximum amount outstanding at any month end

   $ 1,235,900   $ 1,307,875  

Federal Home Loan Bank advances—long-term(1)

              

Balance at year end

   $ 6,661   $ 6,780  

Rate on balance outstanding at year end

     3.51 %   3.51 %

Average daily balance

   $ 6,721   $ 93  

Average rate

     3.51 %   3.51 %

Maximum amount outstanding at any month end

   $ 6,780   $ 6,780  
(1)
The amortization of the long-term advances is approximately $144 per year for each of the next five years and the final maturity date is January 3, 2028.