Short-Term Borrowings

12 Months Ended

Dec. 31, 2011

Note 18—Short-term Borrowings

Short-term borrowings at December 31 were as follows:


	2011							2010							2009
	Ending Balance		Average Balance		Average Rate			Ending Balance		Average Balance		Average Rate			Ending Balance		Average Balance		Average Rate
	(dollars in thousands)
Federal funds purchased	$	75,300	$	15,642		0.26	%	$	12,800	$	40,322		0.26	%	$	630,000	$	584,691		0.29	%
Borrowings from FHLB		84,000		7,537		0.21			0		277,329		0.39			125,000		274,699		0.48
Securities sold under agreements to repurchase		153,477		155,551		0.43			170,563		165,945		0.47			199,526		168,527		0.72
Treasury, tax and loan note option		0		4,134		0.00			4,498		4,482		0.00			4,406		3,747		0.00

Total	$	312,777	$	182,864		0.40		$	187,861	$	488,078		0.40		$	958,932	$	1,031,664		0.41

Maximum total at any month-end	$	312,777						$	1,000,753						$	1,155,933

Weighted average rate at year-end						0.28	%						0.43	%						0.30	%

Interest expense on short-term borrowings for the years ended December 31 is detailed below:


	2011		2010		2009
	(dollars in thousands)
Federal funds purchased	$	41	$	105	$	1,678
Borrowings from FHLB		16		1,069		1,328
Securities sold under agreements to repurchase		671		774		1,210

Total interest on short-term borrowings	$	728	$	1,948	$	4,216

The entire disclosure for short-term debt.