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Short-Term Borrowings | 12 Months Ended
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Dec. 31, 2015
Short-Term Borrowings [Abstract] |
Short-Term Borrowings | (9) Short-Term Borrowings In addition to the liquidity provided by balance sheet cash flows, liquidity must also be supplemented with additional sources such as credit lines from correspondent banks as well as borrowings from the FHLB and the Federal Reserve Bank. Other funding alternatives may also be appropriate from time to time, including wholesale and retail repurchase agreements and brokered CDs. Short-term borrowings totaled $442.5 million and $316.8 million at December 31, 2015 and 2014, respectively, and consist of Federal funds purchased and securities sold under repurchase agreements, which generally represent overnight borrowing transactions, and other short-term borrowings, primarily FHLB advances, with original maturities of one year or less. The Company has unused lines of credit with the FHLB and access to brokered deposits available for short-term financing of approximately $2.0 billion and $1.8 billion at December 31, 2015 and 2014, respectively. Borrowings on the FHLB lines are secured by FHLB stock, certain securities and one-to-four family first lien mortgage loans. Securities collateralizing repurchase agreements are held in safekeeping by nonaffiliated financial institutions and are under the Company's control. Information related to short-term borrowings is summarized as follows:
(In thousands) |  | 2015 |  |  | 2014 |  |  | 2013 |
Federal funds purchased |  |  |  |  |  |  |  |  |
Balance at year-end |  | $ | 99,500 |  |  | $ | 68,000 |  |  | $ | 130,000 |
Average during the year |  |  | 97,424 |  |  |  | 110,154 |  |  |  | 39,907 |
Maximum month end balance |  |  | 159,000 |  |  |  | 183,000 |  |  |  | 130,000 |
Weighted average rate during the year |  |  | 0.36 | % |  |  | 0.29 | % |  |  | 0.26 | %
Weighted average rate at December 31 |  |  | 0.51 | % |  |  | 0.34 | % |  |  | 0.18 | %
Securities sold under repurchase agreements |  |  |  |  |  |  |  |  |  |  |  |
Balance at year-end |  | $ | 167,981 |  |  | $ | 148,802 |  |  | $ | 176,042 |
Average during the year |  |  | 162,201 |  |  |  | 165,858 |  |  |  | 169,352 |
Maximum month end balance |  |  | 178,326 |  |  |  | 182,861 |  |  |  | 185,871 |
Weighted average rate during the year |  |  | 0.06 | % |  |  | 0.06 | % |  |  | 0.06 | %
Weighted average rate at December 31 |  |  | 0.06 | % |  |  | 0.06 | % |  |  | 0.05 | %
Other short-term borrowings |  |  |  |  |  |  |  |  |  |  |  |
Balance at year-end |  | $ | 175,000 |  |  | $ | 100,000 |  |  | $ | 150,000 |
Average during the year |  |  | 80,260 |  |  |  | 106,438 |  |  |  | 71,589 |
Maximum month end balance |  |  | 175,000 |  |  |  | 320,000 |  |  |  | 210,000 |
Weighted average rate during the year |  |  | 0.42 | % |  |  | 0.40 | % |  |  | 0.43 | %
Weighted average rate at December 31 |  |  | 0.56 | % |  |  | 0.36 | % |  |  | 0.55 | %
See Note 3 for additional information regarding securities pledged as collateral for securities sold under the repurchase agreements.

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