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Other Borrowed Funds
9 Months Ended
Sep. 30, 2014
Other Borrowed Funds  
Other Borrowed Funds

Note 7 — Other Borrowed Funds

 

Other borrowed funds include Federal Home Loan Bank borrowings, which are short-term and long-term borrowings issued by the FHLB of Dallas at the market price offered at the time of funding.  These borrowings are secured by residential mortgage-backed investment securities and a portion of the Company’s loan portfolio.  At September 30, 2014, other borrowed funds totaled $987,181,000, a decrease of 19.3% from $1,223,950,000 at December 31, 2013.