Borrowed Funds (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Borrowed Funds

Borrowed funds at June 30, 2023 and December 31, 2022 are summarized as follows (in thousands):

	June 30, 2023		December 31, 2022
Securities sold under repurchase agreements	$	82,470	98,000
FHLB line of credit	179,000		486,000
FHLB advances	1,588,244		753,370
Total borrowed funds	$	1,849,714	1,337,370

Scheduled Maturities of FHLB Advances

Scheduled maturities of FHLB advances and overnight borrowings at June 30, 2023 are as follows (in thousands):

	2023
Due in one year or less	$	1,020,648
Due after one year through two years	514,492
Due after two years through three years	174,660
Due after three years through four years	57,444
Thereafter	—
Total FHLB advances and overnight borrowings	$	1,767,244

Scheduled Maturities of Sold Under Repurchase Agreements

Scheduled maturities of securities sold under repurchase agreements at June 30, 2023 are as follows (in thousands):

	2023
Due in one year or less	$	82,470
Thereafter	—
Total securities sold under repurchase agreements	$	82,470

Debt Disclosure by Year

The following tables set forth certain information as to borrowed funds for the periods ended June 30, 2023 and December 31, 2022 (in thousands):

	Maximum balance		Average balance	Weighted average interest rate
June 30, 2023
Securities sold under repurchase agreements	$	99,669	93,066	1.41	%
FHLB overnight borrowings	402,000		223,980	4.87
FHLB advances	1,588,245		1,125,698	2.78
December 31, 2022
Securities sold under repurchase agreements	$	125,506	113,550	0.38	%
FHLB overnight borrowings	486,000		139,012	3.32
FHLB advances	753,370		503,713	0.85