Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.24.3
COMMITMENTS AND CONTINGENCIES (Tables)
9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Balances of Commitments and Contingencies

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

    

September 30, 2024

    

December 31, 2023

Commitments with off-balance sheet risk:

 

  

 

  

Commitments to extend credit(1)

$

6,181,617

$

5,961,238

Letters of credit

 

141,366

 

140,498

Total commitments with off-balance sheet risk

$

6,322,983

$

6,101,736

(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, the Company 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 as of the periods ended (dollars in thousands):

Pledged Assets as of September 30, 2024

    

    

AFS

    

HTM

    

    

Cash

Securities (1)

Securities (1)

Loans (2)

Total

Public deposits

$

$

807,268

$

617,043

$

$

1,424,311

Repurchase agreements

 

 

84,094

 

 

 

84,094

FHLB advances

 

 

622,906

 

9,897

 

4,213,624

 

4,846,427

Derivatives

 

118,729

 

62,683

 

 

 

181,412

Federal Reserve Discount Window

5,478,665

5,478,665

Other purposes

 

11,154

11,154

Total pledged assets

$

118,729

$

1,588,105

$

626,940

$

9,692,289

$

12,026,063

(1) Balance represents market value.

(2) Balance represents book value.

Pledged Assets as of December 31, 2023

    

    

AFS

    

HTM

    

    

Cash

Securities (1)

Securities (1)

Loans (2)

Total

Public deposits

$

$

749,398

$

621,494

$

$

1,370,892

Repurchase agreements

 

 

174,075

 

 

 

174,075

FHLB advances

 

 

48,718

 

 

2,960,926

 

3,009,644

Derivatives

 

154,382

 

61,311

 

 

 

215,693

Federal Reserve Discount Window (3)

411,661

17,356

418,468

847,485

Other purposes

 

15,591

15,591

Total pledged assets

$

154,382

$

1,460,754

$

638,850

$

3,379,394

$

5,633,380

(1) Balance represents market value.

(2) Balance represents book value.

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