BORROWED FUNDS

The following table summarizes the Company's borrowed funds by funding source.

Summary of Borrowed Funds

(Dollar amounts in thousands)



	As of December 31,
	2014		2013
Securities sold under agreements to repurchase	$	137,994	$	109,792
FHLB advances	—		114,550
Total borrowed funds	$	137,994	$	224,342

Securities sold under agreements to repurchase are treated as financings and the obligations to repurchase securities sold are included as a liability in the Consolidated Statements of Financial Condition. Repurchase agreements are secured by the Treasury and U.S. agency securities and are held in third party pledge accounts, if required. The securities underlying the agreements remain in the respective asset accounts. As of December 31, 2014, the Company did not have amounts at risk under repurchase agreements with any individual counterparty or group of counterparties that exceeded 10% of stockholders' equity.

The Bank is a member of the FHLB and has access to term financing from the FHLB. These advances are secured by designated assets that may include qualifying residential and multi-family mortgages, home equity loans, and municipal and mortgage-backed securities. During 2014, the Company prepaid $114.6 million of FHLB advances. This transaction resulted in a $2.1 million pre-tax loss on the early extinguishment of debt and is included in other noninterest income in the Consolidated Statements of Income. At December 31, 2013, FHLB advances totaled $114.6 million with a weighted average interest rate of 1.34%.

The following table presents short-term credit lines available for use, for which the Company did not have an outstanding balance as of December 31, 2014 and 2013.

Short-Term Credit Lines Available for Use

(Dollar amounts in thousands)



	As of December 31,
	2014		2013
Available federal funds lines	$	685,500	$	681,100
FRBs Discount Window Primary Credit Program	675,507		632,498
Correspondent bank line of credit	35,000		—

None of the Company's borrowings have any related compensating balance requirements that restrict the use of Company assets. At December 31, 2014, the Company had a $35.0 million short-term, unsecured revolving line of credit with a correspondent bank that it allowed to expire on January 20, 2015.