TIME DEPOSITS AND SHORT-TERM DEBT

12 Months Ended

Dec. 31, 2012

TIME DEPOSITS AND SHORT-TERM DEBT [Abstract]

TIME DEPOSITS AND SHORT-TERM DEBT

(10) TIME DEPOSITS AND SHORT-TERM DEBT

Certificates of deposit and other time deposits of $100,000 or more amounting to $1.2 billion and $1.4 billion were outstanding at December 31, 2012 and 2011, respectively.  Total interest expense relating to certificates of deposit and other time deposits of $100,000 or more totaled $20.8 million, $28.7 million and $41.7 million for the years ended December 31, 2012, 2011 and 2010, respectively.

For time deposits with a remaining maturity of more than one year at December 31, 2012, the aggregate amount of time deposits maturing in each of the following five years is presented in the following table:

Maturing in	Amount
	(In thousands)
2014	$	577,392
2015		247,202
2016		120,322
2017		135,827
2018		71
Thereafter		142
Total	$	1,080,956

The following tables present information relating to short-term debt for the years ended December 31, 2012, 2011 and 2010:

	2012
											Maximum
	End of Period					Daily Average					Outstanding
			Interest					Interest			at any
	Balance		Rate			Balance		Rate			Month End
	(Dollars in thousands)
Federal funds purchased	$	-		-	%	$	1,180		0.32	%	$	-
Securities sold under agreement to repurchase		414,611		0.07			379,871		0.07			423,553
Short-term FHLB advances		-		-			1,053		4.71			1,500
Total	$	414,611				$	382,104				$	425,053

	2011
											Maximum
	End of Period					Daily Average					Outstanding
			Interest					Interest			at any
	Balance		Rate			Balance		Rate			Month End
	(Dollars in thousands)
Securities sold under agreement to repurchase	$	373,933		0.07	%	$	435,931		0.10	%	$	493,157
Short-term FHLB advances		1,500		4.71			1,580		5.72			2,723
Total	$	375,433				$	437,511				$	495,880

	2010
											Maximum
	End of Period					Daily Average					Outstanding
			Interest					Interest			at any
	Balance		Rate			Balance		Rate			Month End
	(Dollars in thousands)
Federal funds purchased	$	-		-	%	$	877		0.11	%	$	-
Securities sold under agreement to repurchase		440,593		0.15			486,621		0.17			514,659
Short-term FHLB advances		2,727		5.72			51,638		1.03			152,738
Total	$	443,320				$	539,136				$	667,397

Federal funds purchased generally mature the day following the date of purchase while securities sold under repurchase agreements generally mature within 30 days from the date of sale.  Federal Reserve discount window borrowings generally mature within 90 days following the date of purchase and short-term FHLB borrowings generally mature within 30 days following the date of purchase.  At December 31, 2012, the Bank had established non-binding federal funds borrowing lines of credit with other banks aggregating $659.0 million.