Borrowed Funds

Borrowed funds at December 31, 2017 and 2016 are summarized as follows (in thousands):



	2017		2016
Securities sold under repurchase agreements	$	143,179	156,665
FHLB line of credit	472,000		161,000
FHLB advances	1,127,335		1,295,080
Total borrowed funds	$	1,742,514	1,612,745

At December 31, 2017, FHLB advances were at fixed rates and mature between January 2018 and April 2022, and at December 31, 2016, FHLB advances were at fixed rates and mature between January 2017 and April 2022. These advances are secured by loans receivable and investment securities under a blanket collateral agreement.

Scheduled maturities of FHLB advances at December 31, 2017 are as follows (in thousands):



	2017
Due in one year or less	$	389,375
Due after one year through two years	436,551
Due after two years through three years	249,169
Due after three years through four years	42,240
Due after four years through five years	10,000
Thereafter	—
Total FHLB advances	$	1,127,335

Scheduled maturities of securities sold under repurchase agreements at December 31, 2017 are as follows (in thousands):



	2017
Due in one year or less	$	108,179
Due after one year through two years	35,000
Due after two years through three years	—
Thereafter	—
Total securities sold under repurchase agreements	$	143,179

The following tables set forth certain information as to borrowed funds for the years ended December 31, 2017 and 2016 (in thousands):



	Maximum balance		Average balance	Weighted average interest rate
2017:
Securities sold under repurchase agreements	$	210,702	164,982	1.26	%
FHLB line of credit	472,000		179,003	1.17
FHLB advances	1,288,448		1,237,979	1.78
2016:
Securities sold under repurchase agreements	$	283,233	224,421	1.42	%
FHLB line of credit	173,000		37,608	0.61
FHLB advances	1,343,095		1,315,278	1.76

Securities sold under repurchase agreements include wholesale borrowing arrangements, as well as arrangements with deposit customers of the Bank to sweep funds into short-term borrowings. The Bank uses securities available for sale to pledge as collateral for the repurchase agreements.