BORROWINGS

12 Months Ended

Dec. 31, 2014

Note 9 – Borrowings

Information relating to retail repurchase agreements and other short-term borrowings is presented in the following table at and for the years ending December 31:

		2014				2013				2012
(Dollars in thousands)		Amount		Rate		Amount		Rate		Amount		Rate
	Retail repurchase agreements	$	74,432	0.24	%	$	53,842	0.20	%	$	51,929	0.20	%
Average for the Year:
	Retail repurchase agreements	$	70,097	0.23	%	$	55,769	0.26	%	$	63,864	0.28	%
Maximum Month-end Balance:
	Retail repurchase agreements	$	82,702			$	59,410			$	73,130

The Company pledges U.S. Agencies and Corporate securities, based upon their market values, as collateral for 102.5% of the principal and accrued interest of its retail repurchase agreements.

At December 31, 2014, the Company has an available line of credit for $1.3 billion with the Federal Home Loan Bank of Atlanta (the "FHLB") under which its borrowings are limited to $1.0 billion based on pledged collateral at prevailing market interest rates with $655.0 million borrowed against it at December 31, 2014. At December 31, 2013, lines of credit totaled $1.2 billion under which $847.2 million was available based on pledged collateral with $615.0 million borrowed against it as of December 31, 2013. Under a blanket lien, the Company has pledged qualifying residential mortgage loans amounting to $601.7 million, commercial loans amounting to $757.4 million, home equity lines of credit (“HELOC”) amounting to $331.7 million and multifamily loans amounting to $8.0 million at December 31, 2014 as collateral under the borrowing agreement with the FHLB. At December 31, 2013 the Company had pledged collateral of qualifying mortgage loans of $500.1 million, commercial loans of $653.6 million, HELOC loans of $309.2 million and multifamily loans of $9.3 million under the FHLB borrowing agreement. The Company also had lines of credit available from the Federal Reserve and correspondent banks of $356.9 million and $401.7 million at December 31, 2014 and 2013, respectively, collateralized by loans and state and municipal securities. In addition, the Company had unsecured lines of credit with correspondent banks of $55.0 million and $55.0 million at December 31, 2014 and 2013, respectively. At December 31, 2014 there were no outstanding borrowings against these lines of credit.

Advances from FHLB and the respective maturity schedule at December 31 for the years indicated consisted of the following:

		2014				2013
				Weighted				Weighted
				Average				Average
(Dollars in thousands)		Amounts		Rate		Amounts		Rate
Maturity:
	One year	$	250,000	0.20	%	$	210,000	0.18	%
	Two years		-	-			-	-
	Three years		75,000	3.48			-	-
	Four years		160,000	2.45			75,000	3.48
	Five years		80,000	3.50			160,000	2.45
	After five years		90,000	3.53			170,000	3.52
Total advances from FHLB		$	655,000	1.99		$	615,000	2.09

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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