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Borrowings (Tables)
6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Schedule of Other Borrowings
A summary of the Corporation's short- and long-term borrowings follows:
 
 
June 30, 2017
 
December 31, 2016
(Dollars in thousands)
 
Amount
 
Weighted Average Rate (1)
 
Amount
 
Weighted Average Rate (1)
Securities sold under agreements to repurchase with customers:
 
 
 
 
 
 
 
 
Securities sold under agreements to repurchase with customers
 
$
310,042

 
0.26
%
 
$
343,047

 
0.16
%
Short-term borrowings:
 
 
 
 
 
 
 
 
FHLB advances: 0.96% - 1.40% fixed-rate notes
 
2,050,000

 
1.02

 
825,000

 
0.65

Long-term borrowings:
 
 
 
 
 
 
 
 
FHLB advances: 0.92% - 7.44% fixed-rate notes due 2017 to 2020(2)
 
351,324

 
1.30

 
438,538

 
1.24

Securities sold under agreements to repurchase: 1.48% - 2.75% fixed-rate notes due in 2017(3)
 
9,048

 
2.11

 
19,144

 
3.17

Line-of-credit: floating-rate based on one-month LIBOR plus 1.75%
 
59,854

 
2.80

 
124,625

 
2.52

Subordinated debt obligations: floating-rate based on three-month LIBOR plus 1.45% - 2.85% due 2034 to 2035(4)
 
11,354

 
3.42

 
11,285

 
3.14

Subordinated debt obligations: floating-rate based on three-month LIBOR plus 3.25% due in 2032(5)
 
4,272

 
4.40

 
4,255

 
4.25

Total long-term borrowings
 
435,852

 
1.61

 
597,847

 
1.63

Total borrowings
 
$
2,795,894

 
1.03
%
 
$
1,765,894

 
0.89
%

 
(1)
Weighted average rate presented is the contractual rate which excludes premiums and discounts related to purchase accounting.
(2)
The June 30, 2017 balances include advances payable of $350.9 million and purchase accounting premiums of $0.5 million. The December 31, 2016 balance includes advances payable of $437.8 million and purchase accounting premiums of $0.7 million.
(3)
The June 30, 2017 balance includes advances payable of $9.0 million and purchase accounting premiums of $55 thousand. The December 31, 2016 balance includes advance payable of $19.0 million and purchase accounting premiums of $0.1 million.
(4)
The June 30, 2017 balance includes advances payable of $15.0 million and purchase accounting discounts of $3.6 million. The December 31, 2016 balance includes advances payable of $15.0 million and purchase accounting discounts of $3.7 million.
(5)
The June 30, 2017 balance includes advances payable of $5.0 million and purchase accounting discounts of $0.7 million. The December 31, 2016 balance includes advances payable of $5.0 million and purchase accounting discounts of $0.7 million.
Schedule of Securities Sold Under Agreements to Repurchase
The remaining contractual maturity, excluding purchase accounting adjustments, of long-term securities under agreement to repurchase, is as follows:
 
June 30, 2017
 
Remaining Contractual Maturities of the Agreements
(Dollars in thousands)
Overnight and continuous
 
Up to 30 Days
 
30-90 Days
 
Greater than 90 Days
 
Total
Securities sold under agreements to repurchase
$

 
$

 
$
4,000

 
$
5,000

 
$
9,000

Total borrowings
$

 
$

 
$
4,000

 
$
5,000

 
$
9,000

Amounts related to securities sold under agreements to repurchase not included in offsetting disclosure
in Note 10
 
$
9,000