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securities underlying the agreements remaining in the asset accounts. At December 31, 2011, the
<br />outstanding balance of these agreements was $327.5 million with a weighted average maturity of 4 days.
<br />At December 31, 2011, the Bank had $8.0 billion of credit lines available from other U.S. financial
<br />institutions. Of this amount, $0.9 billion is available from First Hawaiian Bank and $1.7 billion is available
<br />from BNP Paribas of New York. At December 31, 2011, the Bank had drawn down on the available credit
<br />lines of credit by $125 million, from non-affiliated U.S. financial institutions and $55 million from BNP
<br />Paribas of New York.
<br />13. Long -Term Debt
<br />At December 31, 2011 and 2010, long-term debt was comprised of the following:
<br />(dollars in thousands) Rate(s) 2011 2010
<br />Fixed-rate advances from the Federal Home Loan
<br />Bank due through 2035(1)(2)(4) 2.87% to 7.96% $2,010,776 $2,758,042
<br />Fixed-rate advances from the Federal Home Loan
<br />Bank due through 2018(1)(3)(6) 1.22% to 3.37% 1,145,839 830,000
<br />Floating-rate advances from the Federal Home Loan
<br />Bank due through 2013(2)(6) 1 mo. LIBOR+0.02% to +0.19% 350,000 1,050,000
<br />Floating-rate advances from the Federal Home Loan
<br />Bank due through 2013(1)(3) 3 mo. LIBOR -0.02% to +0,07% 1,100,000
<br />Fixed-rate Temporary Liquidity Guarantee Program
<br />(TLGP) unsecured senior debt through 2012(5) 2,15% 1,000,013 1,000,997
<br />Fixed-rate unsecured lines of credit with BNP
<br />Paribas due through 2015(2) 2.89% to 4.71% 54,500 75,900
<br />Floating-rate subordinated note due 2011(5) 6 mo. LIBOR+3.75% - 31,026
<br />Fixed-rate subordinated note due 2011(5) 8.30% - 50,036
<br />Capital leases due through 2030(2) 15,740 16,534
<br />Total long-term debt $5,676,868 $5,812,535
<br />01 This debt is secured by real estate loans or securities. See Notes 2 and 4 to the financial statements for additional information.
<br />(2) Interest is payable monthly.
<br />(3) Interest is payable quarterly.
<br />(4) Fixed rate with partial repayment monthly.
<br />(5) Interest is payable semi-annually.
<br />(6) In 2011, the Bank terminated $440 million of these advances and recognized a $0.8 million loss on the termination.
<br />As part of long -tern and short-term borrowing arrangements, the Bank was subject to various
<br />covenants. At December 31, 2011 and 2010, the Bank was in compliance with all the covenants.
<br />As of December 31, 2011, the principal payments due on long-term debt were as follows:
<br />(dollars in thousands)
<br />2012 $1,700,153
<br />2013 2,666,651
<br />2014 876,434
<br />2015 162,953
<br />2016 497
<br />2017 and thereafter 269,030
<br />Total(1) $5,675,718
<br />(I) Excludes fair valuation for debt that was hedged and purchase accounting adjustments totaling
<br />$1.2 million.
<br />-36-
<br />2011 Bank of the West Annual Report
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