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Other Borrowed Funds
3 Months Ended
Mar. 31, 2016
Other Borrowed Funds  
Other Borrowed Funds

Note 7 — Other Borrowed Funds

 

Other borrowed funds include FHLB 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 March 31, 2016, other borrowed funds totaled $499,650,000, a decrease of 1.2% from $505,750,000 at December 31, 2015. The decrease in borrowings can be primarily attributed to the use of funds generated from principal paydowns on available for sale securities.