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FHLB Advances
12 Months Ended
Sep. 30, 2011
FHLB Advances [Abstract] 
Federal Home Loan Bank Advances
FHLB ADVANCES
 
Maturity dates of FHLB advances were as follows:
 
September 30,
2011
2010
 
(In thousands)
FHLB advances
 
 
Within 1 year
—

—

1 to 3 years
—

100,000

4 to 5 years
1,212,066

415,548

More than 5 years
750,000

1,350,000

 
$
1,962,066

$
1,865,548

 
$1,150,000,000 of the 2011 advances and $1,350,000,000 of the 2010 advances included in the above table are callable by the FHLB. If these callable advances were to be called at the earliest call dates, the maturities of all FHLB advances would be as follows:
 
September 30,
2011
2010
 
(In thousands)
FHLB advances
 
 
Within 1 year
$
1,100,000

$
400,000

1 to 3 years
450,000

875,000

4 to 5 years
412,066

390,548

More than 5 years
—

200,000

 
$
1,962,066

$
1,865,548


 
Financial data pertaining to the weighted-average cost and the amount of FHLB advances were as follows:
 
September 30,
2011
2010
2009
 
(In thousands)
Weighted average interest rate at end of year
4.10
%
4.24
%
4.39
%
Weighted daily average interest rate during the year
4.35
%
4.46
%
4.23
%
Daily average of FHLB advances
$
1,883,135

$
2,070,843

$
2,243,242

Maximum amount of FHLB advances at any month end
1,962,616

2,078,695

2,743,026

Interest expense during the year
81,994

92,402

94,048


 
FHLB advances are collateralized as provided for in the Advances, Pledge and Security Agreement by all FHLB stock owned by the Company, deposits with the FHLB and certain mortgages or deeds of trust securing such properties as provided in the agreements with the FHLB. As a member of the FHLB of Seattle, the Company currently has a credit line of 50% of the total assets of the Bank, subject to collateralization requirements.