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FHLB Advances
 12 Months Ended
Sep. 30, 2012
FHLB Advances [Abstract]  
Federal Home Loan Bank Advances
FHLB ADVANCES
 
Maturity dates of FHLB advances were as follows:
 
September 30,
2012
2011
 
(In thousands)
FHLB advances
 
 
Within 1 year
—

—

1 to 3 years
100,000

—

4 to 5 years
500,000

1,212,066

More than 5 years
1,280,000

750,000

 
$
1,880,000

$
1,962,066

 
$450,000,000 of the 2012 advances and $1,150,000,000 of the 2011 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,
2012
2011
 
(In thousands)
FHLB advances
 
 
Within 1 year
$
275,000

$
1,100,000

1 to 3 years
275,000

450,000

4 to 5 years
500,000

412,066

More than 5 years
830,000

—

 
$
1,880,000

$
1,962,066


 
Financial data pertaining to the weighted-average cost and the amount of FHLB advances were as follows:
 
September 30,
2012
2011
2010
 
(In thousands)
Weighted average interest rate at end of year
3.60
%
4.10
%
4.24
%
Weighted daily average interest rate during the year
4.14
%
4.35
%
4.46
%
Daily average of FHLB advances
$
1,949,019

$
1,883,135

$
2,070,843

Maximum amount of FHLB advances at any month end
1,961,895

1,962,616

2,078,695

Interest expense during the year
80,617

81,994

92,402


 
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.