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Short-Term Borrowings | 12 Months Ended
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Dec. 31, 2010
Short-Term Borrowings [Abstract] |
Short-Term Borrowings | 9. SHORT-TERM BORROWINGS Short-term borrowings were as follows:
December 31 (In thousands) |  | 2010 |  |  | 2009 |
Securities sold under agreements to repurchase and federal funds purchased |  | $ | 279,669 |  |  | $ | 294,219 |
Federal Home Loan Bank advances |  |  | 384,000 |  |  |  | 30,000 |
Total short-term borrowings |  | $ | 663,669 |  |  | $ | 324,219 |
The outstanding balances for all short-term borrowings as of December 31, 2010 and 2009 and the weighted-average interest rates as of and paid during each of the years then ended were as follows:
|  | Repurchase |  |  |  |  |  | Demand |
|  | Agreements |  |  | Federal |  |  | Notes |
|  | and Federal |  |  | Home Loan |  |  | Due U.S. |
|  | Funds |  |  | Bank |  |  | Treasury |
(In thousands) |  | Purchased |  |  | Advances |  |  | and Other |
2010: |  |  |  |  |  |  |  |  |
Ending balance |  | $ | 279,669 |  |  | $ | 384,000 |  |  | $ | — |
Highest month-end balance |  |  | 295,467 |  |  |  | 384,000 |  |  |  | — |
Average daily balance |  |  | 269,260 |  |  |  | 31,679 |  |  |  | — |
Weighted-average interest rate: |  |  |  |  |  |  |  |  |  |  |  |
As of year-end |  |  | 0.32 | % |  |  | 0.19 | % |  |  | — |
Paid during the year |  |  | 0.39 | % |  |  | 0.39 | % |  |  | — |
2009: |  |  |  |  |  |  |  |  |  |  |  |
Ending balance |  | $ | 294,219 |  |  | $ | 30,000 |  |  | $ | — |
Highest month-end balance |  |  | 303,972 |  |  |  | 442,000 |  |  |  | — |
Average daily balance |  |  | 281,941 |  |  |  | 137,792 |  |  |  | — |
Weighted-average interest rate: |  |  |  |  |  |  |  |  |  |  |  |
As of year-end |  |  | 0.49 | % |  |  | 0.49 | % |  |  | — |
Paid during the year |  |  | 0.82 | % |  |  | 0.66 | % |  |  | — |
At December 31, 2010, 2009 and 2008, Federal Home Loan Bank (FHLB) advances were collateralized by investment securities owned by the Corporation's subsidiary banks and by various loans pledged under a blanket agreement by the Corporation's subsidiary banks. See Note 4 of these Notes to Consolidated Financial Statements for the amount of investment securities that are pledged. At December 31, 2010, $2,071 million of commercial real estate and residential mortgage loans were pledged under a blanket agreement to the FHLB by Park's subsidiary banks. At December 31, 2009, $1,959 million of commercial real estate and residential mortgage loans were pledged under a blanket agreement to the FHLB by Park's subsidiary banks. Note 4 states that $668 million and $658 million of securities were pledged to secure repurchase agreements as of December 31, 2010 and 2009, respectively. Park's repurchase agreements in short-term borrowings consist of customer accounts and securities which are pledged on an individual security basis. Park's repurchase agreements with a third-party financial institution are classified in long-term debt. See Note 10 of these Notes to Consolidated Financial Statements.

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- Definition This element may be used as a single block of text to encapsulate the entire disclosure for short-term borrowings including data and tables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 16 -Article 7 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 13 -Article 9 + Details
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