Borrowed Funds (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of Borrowed Funds

Borrowed funds at March 31, 2023 and December 31, 2022 are summarized as follows (in thousands):

	March 31, 2023		December 31, 2022
Securities sold under repurchase agreements	$	92,538	$	98,000
FHLB line of credit	—		486,000
FHLB advances	1,492,280		753,370
Total borrowed funds	$	1,584,818	$	1,337,370

Scheduled Maturities of FHLB Advances

Scheduled maturities of FHLB advances at March 31, 2023 are as follows (in thousands):

	2023
Due in one year or less	$	624,968
Due after one year through two years	610,207
Due after two years through three years	249,660
Due after three years through four years	7,445
Thereafter	—
Total FHLB advances	$	1,492,280

Scheduled Maturities of Sold Under Repurchase Agreements

Scheduled maturities of securities sold under repurchase agreements at March 31, 2023 are as follows (in thousands):

	2023
Due in one year or less	$	92,538
Thereafter	—
Total securities sold under repurchase agreements	$	92,538

Debt Disclosure by Year

The following tables set forth certain information as to borrowed funds for the periods ended March 31, 2023 and December 31, 2022 (in thousands):

	Maximum balance		Average balance	Weighted average interest rate
March 31, 2023
Securities sold under repurchase agreements	$	99,669	98,313	1.32	%
FHLB line of credit	402,000		300,755	3.47
FHLB advances	1,492,280		825,211	3.29
December 31, 2022
Securities sold under repurchase agreements	$	125,506	113,550	0.38	%
FHLB line of credit	486,000		139,012	3.32
FHLB advances	753,370		503,713	0.85