Quarterly report pursuant to Section 13 or 15(d)

BORROWINGS (Tables)

v3.23.2
BORROWINGS (Tables)
6 Months Ended
Jun. 30, 2023
Borrowings [Abstract]  
Short-Term Borrowings

Total short-term borrowings consist of the following as of June 30, 2023 and December 31, 2022 (dollars in thousands):

​

​

​

​

​

​

​

​

​

    

June 30,

​

December 31, 

 

​

​

2023

​

2022

 

Securities sold under agreements to repurchase

​

$

130,461

​

$

142,837

​

Federal Funds Purchased

​

​

—

​

​

160,000

​

FHLB Advances

​

 

799,400

​

 

1,016,000

​

Total short-term borrowings

​

$

929,861

​

$

1,318,837

​

​

​

​

​

​

​

​

​

Average outstanding balance during the period

​

$

698,391

​

$

302,060

​

Average interest rate during the period

​

 

4.51

%  

 

1.79

%

Average interest rate at end of period

​

 

4.96

%  

 

3.89

%

Contractual Maturities of Long-Term Debt

As of June 30, 2023, the contractual maturities of long-term debt are as follows for the years ending (dollars in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  

Trust

  

​

  

​

  

​

​

  

Preferred

  

​

  

​

  

Total

​

  

Capital

  

Subordinated

  

Fair Value

  

 Long-term

​

  

Notes

  

Debt

  

Discount (1)

  

Borrowings

For the remaining six months of 2023

​

$

—

​

$

—

​

$

(585)

​

$

(585)

2024

​

 

—

​

 

—

​

 

(1,187)

​

 

(1,187)

2025

​

 

—

​

 

—

​

 

(1,211)

​

 

(1,211)

2026

​

 

—

​

 

—

​

 

(1,236)

​

 

(1,236)

2027

​

 

—

​

 

—

​

 

(1,263)

​

 

(1,263)

Thereafter

​

 

155,159

​

 

250,000

​

 

(9,237)

​

 

395,922

Total long-term borrowings

​

$

155,159

​

$

250,000

​

$

(14,719)

​

$

390,440

​

(1) Includes discount on Trust Preferred Capital Securities and Subordinated Debt.