Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.23.3
COMMITMENTS AND CONTINGENCIES (Tables)
9 Months Ended
Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Balances of Commitments and Contingencies

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

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September 30, 2023

    

December 31, 2022

Commitments with off-balance sheet risk:

 

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Commitments to extend credit(1)

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$

5,600,928

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$

5,229,252

Letters of credit

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146,178

​

 

156,459

Total commitments with off-balance sheet risk

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$

5,747,106

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$

5,385,711

(1) Includes unfunded overdraft protection.

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 September 30, 2023 and December 31, 2022 (dollars in thousands):

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Pledged Assets as of September 30, 2023

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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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$

686,217

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$

580,172

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$

—

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$

1,266,389

Repurchase agreements

​

 

—

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142,537

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—

​

 

—

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142,537

FHLB advances

​

 

—

​

 

51,084

​

 

—

​

 

3,073,097

​

 

3,124,181

Derivatives

​

 

210,977

​

 

59,568

​

 

—

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—

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270,545

Fed Funds (3)

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​

—

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​

392,491

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​

16,444

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​

452,649

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​

861,584

Other purposes

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—

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​

15,248

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​

—

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—

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​

15,248

Total pledged assets

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$

210,977

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$

1,347,145

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$

596,616

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$

3,525,746

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$

5,680,484

(1) Balance represents market value.

(2) Balance represents carrying value.

(3) Includes AFS and HTM securities pledged under the BTFP program.

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Pledged Assets as of December 31, 2022

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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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$

713,761

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$

579,550

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$

—

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$

1,293,311

Repurchase agreements

​

 

—

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159,221

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—

​

 

—

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159,221

FHLB advances

​

 

—

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36,039

​

 

—

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2,679,316

​

 

2,715,355

Derivatives

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196,180

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57,114

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—

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—

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253,294

Fed Funds

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​

—

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—

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—

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458,680

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​

458,680

Other purposes

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—

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​

27,311

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​

865

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​

—

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​

28,176

Total pledged assets

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$

196,180

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$

993,446

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$

580,415

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$

3,137,996

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$

4,908,037

(1) Balance represents market value.

(2) Balance represents book value.