| 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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2024 |
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2023 |
Commitments with off-balance sheet risk: |
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Commitments to extend credit(1) |
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$ |
5,987,562 |
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$ |
5,961,238 |
Letters of credit |
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|
145,985 |
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|
140,498 |
Total commitments with off-balance sheet risk |
|
$ |
6,133,547 |
|
$ |
6,101,736 |
(1) Includes unfunded overdraft protection.
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| Schedule of Pledged Assets, Not Separately Reported on Statement of Financial Position |
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Pledged Assets 2024 |
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AFS |
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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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$ |
771,486 |
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$ |
601,421 |
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$ |
— |
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$ |
1,372,907 |
Repurchase agreements |
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— |
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93,667 |
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— |
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— |
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93,667 |
FHLB advances |
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— |
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579,947 |
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9,417 |
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4,089,049 |
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|
4,678,413 |
Derivatives |
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134,668 |
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|
62,199 |
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— |
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— |
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196,867 |
Federal Reserve Discount Window |
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— |
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— |
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— |
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4,358,701 |
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4,358,701 |
Other purposes |
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— |
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18,713 |
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— |
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— |
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|
18,713 |
Total pledged assets |
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$ |
134,668 |
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$ |
1,526,012 |
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$ |
610,838 |
|
$ |
8,447,750 |
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$ |
10,719,268 |
(1) Balance represents market value.
(2) Balance represents book value.
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Pledged Assets 2023 |
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AFS |
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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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$ |
749,398 |
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$ |
621,494 |
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$ |
— |
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$ |
1,370,892 |
Repurchase agreements |
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— |
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|
174,075 |
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— |
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— |
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174,075 |
FHLB advances |
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— |
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48,718 |
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— |
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2,960,926 |
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3,009,644 |
Derivatives |
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154,382 |
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|
61,311 |
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— |
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— |
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215,693 |
Federal Reserve Discount Window (3) |
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— |
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411,661 |
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17,356 |
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418,468 |
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|
847,485 |
Other purposes |
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— |
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15,591 |
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— |
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— |
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|
15,591 |
Total pledged assets |
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$ |
154,382 |
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$ |
1,460,754 |
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$ |
638,850 |
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$ |
3,379,394 |
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$ |
5,633,380 |
(1) Balance represents market value.
(2) Balance represents book value.
(3) Includes AFS and HTM securities pledged under the Bank Term Funding Program.
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