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,
	2016		2015
Securities sold under agreements to repurchase	$	129,008	$	155,196
FHLB advances	750,000		9,900
Total borrowed funds	$	879,008	$	165,096

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, 2016, 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 commercial real estate, residential and multi-family mortgages, home equity loans, and certain municipal and mortgage-backed securities. As of December 31, 2016, FHLB advances had fixed interest rates that range from 0.49% to 0.70% and maturity dates that range from January 9, 2017 to March 1, 2017.

The Company hedges interest rates on borrowed funds using interest rate swaps through which the Company receives variable amounts and pays fixed amounts. See Note 20 "Derivative Instruments and Hedging Activities" for a detailed discussion of interest rate swaps.

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, 2016 and 2015.

Short-Term Credit Lines Available for Use

(Dollar amounts in thousands)



	As of December 31,
	2016		2015
FRBs Discount Window Primary Credit Program	$	629,699	$	655,745
Available federal funds lines	632,000		659,000
Correspondent bank line of credit	50,000		—

On September 27, 2016, the Company entered into a loan agreement with U.S. Bank National Association providing for a $50.0 million short-term, unsecured revolving credit facility. Advances will bear interest at a rate equal to one-month LIBOR plus 1.75%, adjusted on a monthly basis, and the Company must pay an unused facility fee equal to 0.35% per annum on a quarterly basis. The line of credit will mature on September 26, 2017. Management expects to use this line of credit for general corporate purposes. As of December 31, 2016, no amount was outstanding under the facility.

None of the Company's borrowings have any related compensating balance requirements that restrict the use of Company assets.