BORROWINGS

Following is a summary of short-term borrowings:


	June 30, 2011		December 31, 2010
Securities sold under repurchase agreements	$	563,196	$	611,902
Federal funds purchased		20,000		—
Subordinated notes		135,104		131,458
Other short-term borrowings		10,000		10,243

	$	728,300	$	753,603

Securities sold under repurchase agreements is comprised of customer repurchase agreements, which are borrowings from commercial customers of FNBPA which are generally renewable on a daily basis. Securities are pledged to these customers in an amount equal to the outstanding balance.

Following is a summary of long-term debt:


	June 30, 2011		December 31, 2010
Federal Home Loan Bank advances	$	137,052	$	118,700
Subordinated notes		74,233		72,745
Other subordinated debt		9,168		—
Convertible debt		608		613

	$	221,061	$	192,058

The Corporation's banking affiliate has available credit with the FHLB of $2,016,214 of which $137,052 was used as of June 30, 2011. These advances are secured by loans collateralized by 1-4 family mortgages and FHLB stock and are scheduled to mature in various amounts periodically through the year 2019. Effective interest rates paid on these advances range from 0.99% to 4.79% for both the six months ended June 30, 2011 and the year ended December 31, 2010.