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Borrowed Funds (Tables)
12 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  
Schedule of Short-Term Borrowings

Short-term borrowings at December 31, 2013 and 2012 consisted of the following:

 

     2013      2012  
     (in thousands)  

Securities sold under agreements to repurchase

   $ 231,455       $ 154,323   

Federal funds purchased

     50,000         —     
  

 

 

    

 

 

 

Total short-term borrowings

   $ 281,455       $ 154,323   
  

 

 

    

 

 

 

Schedule of Long-Term Borrowings

Long-term borrowings at December 31, 2013 and 2012 consisted of the following:

 

     2013     2012  
     (in thousands)  

FHLB advances

   $ 1,982,268      $ 2,008,370   

Securities sold under agreements to repurchase

     587,500        587,500   

Subordinated debt

     221,757     100,000   

Other

     781        1,429   
  

 

 

   

 

 

 

Total long-term borrowings

   $ 2,792,306      $ 2,697,299   
  

 

 

   

 

 

 

 

* Includes subordinated debentures with contractual principal balances totaling $125.0 million that are hedged for changes in fair value using an interest rate swap.
Schedule of FHLB Repayment

The long-term FHLB advances at December 31, 2013 are scheduled for repayment as follows:

 

Year

   Amount  
     (in thousands)  

2014

   $ 102   

2015

     175,102   

2016

     182,101   

2017

     584,969   

2018

     405,000   

Thereafter

     634,994   
  

 

 

 

Total long-term FHLB advances

   $ 1,982,268   
  

 

 

 

Schedule of Repayment of Long-Term Borrowings for Securities Sold Under Agreements to Repurchase

The long-term borrowings for securities sold under agreements to repurchase at December 31, 2013 are scheduled for repayment as follows:

 

Year

   Amount  
     (in thousands)  

2015

   $ 125,000   

2016

     92,500   

2017

     220,000   

2018

     100,000   

Thereafter

     50,000   
  

 

 

 

Total long-term borrowings for securities sold under agreements to repurchase

   $ 587,500