Short-Term Borrowings and Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2012

The following table represents outstanding short-term borrowings and long-term debt at December 31, 2012 and 2011:



				Carrying Value
(Dollars in thousands)	Maturity	Principal value at December 31, 2012		December 31, 2012		December 31, 2011
Short-term borrowings:
Federal funds purchased	January 1, 2013	160,000		160,000		—
Other short-term borrowings	(1)	6,110		6,110		—
Total short-term borrowings				$	166,110	$	—
Long-term debt:
5.375% Senior Notes	September 15, 2020	$	350,000	$	347,995	$	347,793
5.70% Senior Notes (2)	June 1, 2012	—		—		143,969
6.05% Subordinated Notes (3)	June 1, 2017	45,964		54,571		55,075
7.0% Junior Subordinated Debentures	October 15, 2033	50,000		55,196		55,372
Other long-term debt	(4)	—		—		1,439
Total long-term debt				$	457,762	$	603,648


(1)	Represents cash collateral received from our counterparty for our interest rate swap agreement related to our 6.05% Subordinated Notes.


(2)	At December 31, 2011, included in the carrying value of our 5.70% Senior Notes was $2.6 million related to hedge accounting associated with the notes.


(3)	At December 31, 2012 and 2011, included in the carrying value of our 6.05% Subordinated Notes were $9.0 million and $8.8 million, respectively, related to hedge accounting associated with the notes.


(4)	Represents long-term notes payable related to one of our debt fund investments. The last payment related to the notes was made in April 2012.

The aggregate annual maturities of long-term debt obligations as of December 31, 2012 are as follows:



Year ended December 31, (dollars in thousands):
2013	$	—
2014	—
2015	—
2016	—
2017	54,571
2018 and thereafter	403,191
Total	$	457,762