Annual report pursuant to Section 13 and 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.19.3.a.u2
COMMITMENTS AND CONTINGENCIES (Tables)
12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Balances of Commitments and Contingencies

The following table presents the balances of commitments and contingencies as of December 31, (dollars in thousands):

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2019

    

2018

Commitments with off-balance sheet risk:

 

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Commitments to extend credit (1)

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$

4,691,272

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$

3,167,085

Standby letters of credit

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209,658

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167,597

Total commitments with off-balance sheet risk

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$

4,900,930

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$

3,334,682

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(1) Includes unfunded overdraft protection.

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Schedule of Pledged Assets, Not Separately Reported on Statement of Financial Position

As part of the Company’s liquidity management strategy, it pledges collateral to secure various financing and other activities that occur during the normal course of business. The following tables present the types of collateral pledged, at December 31, 2019 and 2018 (dollars in thousands):

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Pledged Assets as of December 31, 2019

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AFS

    

HTM

    

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Cash

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Securities (1)

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Securities (1)

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Loans (2)

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Total

Public deposits

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$

—

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$

467,266

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$

292,096

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$

—

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$

759,362

Repurchase agreements

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—

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79,299

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7,602

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—

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86,901

FHLB advances

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—

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63,812

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—

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3,846,934

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3,910,746

Derivatives

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116,839

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1,260

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—

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—

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118,099

Fed Funds

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—

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—

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—

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292,738

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292,738

Other purposes

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—

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122,358

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10,654

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—

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133,012

Total pledged assets

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$

116,839

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$

733,995

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$

310,352

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$

4,139,672

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$

5,300,858

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(1) Balance represents market value.

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(2) Balance represents book value.

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Pledged Assets as of December 31, 2018

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AFS

    

HTM

    

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Cash

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Securities (1)

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Securities (1)

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Loans (2)

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Total

Public deposits

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$

—

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$

293,169

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$

7,407

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$

—

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$

300,576

Repurchase agreements

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—

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55,269

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—

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—

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55,269

FHLB advances

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—

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488

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—

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3,337,289

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3,337,777

Derivatives

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13,509

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1,938

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—

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—

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15,447

Other purposes

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—

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23,217

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—

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—

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23,217

Total pledged assets

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$

13,509

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$

374,081

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$

7,407

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$

3,337,289

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$

3,732,286

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(1) Balance represents book value.

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(2) Balance represents market value.

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