XML 114 R19.htm IDEA: XBRL DOCUMENT v2.4.0.6
OTHER BORROWINGS
12 Months Ended
Dec. 31, 2012
Debt Disclosure [Abstract]  
OTHER BORROWINGS
OTHER BORROWINGS

Other borrowings consist of retail repurchase agreements, other term borrowings and Federal Reserve Bank borrowings.

Retail Repurchase Agreements:  At December 31, 2012, retail repurchase agreements carry interest rates ranging from 0.20% to 0.70%, payable at maturity, and are secured by the pledge of certain mortgage-backed and agency securities with a carrying value of $109 million.  Banner Bank has the right to pledge or sell these securities, but they must replace them with substantially the same security.  There were no wholesale repurchase agreements and other term borrowings, such as Fed Funds, outstanding as of December 31, 2012 and 2011.

Federal Reserve Bank of San Francisco and Other Borrowings:  Banner Bank periodically borrows funds on an overnight basis from the Federal Reserve Bank through the Borrower-In-Custody (BIC) program.  Such borrowings are secured by a pledge of eligible loans.  At December 31, 2012, based upon available unencumbered collateral, Banner Bank was eligible to borrow $595 million from the Federal Reserve Bank, although, at that date, as well as at December 31, 2011, the Bank had no funds borrowed under this arrangement.  There were no other borrowings at December 31, 2012.

A summary of all other borrowings at December 31, 2012 and 2011 by the period remaining to maturity is as follows (dollars in thousands):
 
At or for the Years Ended December 31
 
2012
 
2011
 
Amount
 
Weighted
Average Rate
 
Amount
 
Weighted
Average Rate
Retail repurchase agreements:
 
 
 
 
 
 
 
Due in one year or less
$
76,633

 
0.30
%
 
$
102,131

 
0.29
%
Total year-end outstanding
$
76,633

 
0.30

 
$
102,131

 
0.29

Average outstanding
$
90,017

 
0.31

 
$
103,704

 
0.34

Maximum outstanding at any month-end
100,949

 
n/a

 
125,136

 
n/a

Temporary liquidity guarantee program notes: (1)
 
 
 
 
 
 
 
Due in one year or less
$

 
%
 
$
49,997

 
3.82
%
Total year-end outstanding
$

 

 
$
49,997

 
3.82

Average outstanding
$
12,158

 
3.92

 
$
49,993

 
3.82

Maximum outstanding at any month-end
49,999

 
n/a

 
49,997

 
n/a


(1) 
These notes matured and were repaid on March 31, 2012. Weighted average rate includes FDIC guarantee fee and amortization of origination costs.

The table below summarizes interest expense for other borrowings for the years ended December 31, 2012, 2011 and 2010 (in thousands):
 
Years Ended December 31
 
2012

 
2011

 
2010

Retail repurchase agreements
$
281

 
$
356

 
$
539

FDIC guaranteed debt
477

 
1,909

 
1,909

Total expense
$
758

 
$
2,265

 
$
2,448