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Short-Term Borrowings | 12 Months Ended
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Dec. 31, 2011
Short-Term Borrowings [Abstract] |
Short-Term Borrowings | 9. Short-Term Borrowings Short-term borrowings were as follows:
December 31 (In thousands) |  | 2011 |  |  | 2010 |
Securities sold under agreements to repurchase and federal funds purchased |  | $ | 240,594 |  |  | $ | 279,669 |
Federal Home Loan Bank advances |  |  | 23,000 |  |  |  | 384,000 |
Total short-term borrowings |  | $ | 263,594 |  |  | $ | 663,669 |
The outstanding balances for all short-term borrowings as of December 31, 2011 and 2010 and the weighted-average interest rates as of and paid during each of the years then ended were as follows:
(In thousands) |  | Repurchase agreements and Federal Funds Purchased |  |  | Federal Home Loan Bank Advances |  |  | Demand Notes Due U.S. Treasury and Other |
2011: |  |  |  |  |  |  |  |  |  |  |  |
Ending balance |  | $ | 240,594 |  |  | $ | 23,000 |  |  | $ | — |
Highest month-end balance |  |  | 265,412 |  |  |  | 232,000 |  |  |  | — |
Average daily balance |  |  | 246,145 |  |  |  | 51,392 |  |  |  | — |
Weighted-average interest rate: |  |  |  |  |  |  |  |  |  |  |  |
As of year-end |  |  | 0.29 | % |  |  | 0.40 | % |  |  | — |
Paid during the year |  |  | 0.30 | % |  |  | 0.18 | % |  |  | — |
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 | % |  |  | — |
At December 31, 2011 and 2010, 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, 2011 and 2010, $2,231 million and $2,071 million, respectively, 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 $669 million and $668 million of securities were pledged to secure repurchase agreements as of December 31, 2011 and 2010, 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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