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,
	2015		2014
Securities sold under agreements to repurchase	$	155,196	$	137,994
FHLB advances	9,900		—
Total borrowed funds	$	165,096	$	137,994

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 U.S. treasury and agency securities which are held in third party pledge accounts, if required. The securities underlying the agreements remain in the respective asset accounts. As of December 31, 2015, 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. As of December 31, 2015, the Company held one $9.9 million 3-month FHLB advance with a fixed interest rate of 0.4% that matures on March 1, 2016. During 2014, the Company prepaid $114.6 million of FHLB advances which 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.

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, 2015 and 2014.

Short-Term Credit Lines Available for Use

(Dollar amounts in thousands)



	As of December 31,
	2015		2014
FRBs Discount Window Primary Credit Program	$	655,745	$	675,507
Available federal funds lines	659,000		685,500
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. As of 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.