Borrowings (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary of Borrowings

Borrowings consisted of FHLB advances, securities sold under agreements to repurchase (repurchase agreements), and floating rate advances and are summarized as follows (in thousands): 

	December 31,
	2021		2020
Repurchase agreements	$	50,000	$	75,000
Other borrowings:
FHLB advances	365,000		510,000
Floating rate advances	6,755		6,789
	$	421,755	$	591,789

Contractual Maturities Repurchase Agreements And FHLB Advances

At December 31, 2021 and 2020, FHLB advances and repurchase agreements had contractual maturities as follows (in thousands): 

	December 31, 2021
	FHLB		Repurchase
	Advances		Agreements
2022	$	95,000	$	25,000
2023	87,500		—
2024	25,000		25,000
2025	112,500		—
Thereafter	45,000		—
	$	365,000	$	50,000

	December 31, 2020
	FHLB		Repurchase
	Advances		Agreements
2021	$	145,000	$	25,000
2022	95,000		25,000
2023	87,500		—
2024	25,000		25,000
2025	112,500		—
Thereafter	45,000		—
	$	510,000	$	75,000

Further information regarding FHLB advances and repurchase agreements is summarized as follows (in thousands):

	December 31,
	2021			2020			2021			2020
	FHLB Advances						Repurchase Agreements
Average balance during year	$	434,422		$	562,467		$	60,068		$	75,000
Maximum outstanding at any month end	$	510,000		$	695,000		$	75,000		$	75,000
Weighted average interest rate at end of year	2.10		%	2.05		%	2.36		%	2.30		%
Weighted average interest rate during year	2.08		%	2.01		%	2.36		%	2.35		%

Summary of Interest Expense on Borrowings

Interest expense on borrowings is summarized as follows (in thousands): 

	December 31,
	2021		2020		2019
Repurchase agreements	$	1,416	$	1,762	$	1,065
FHLB advances	9,026		11,323		10,795
Floating rate advances	—		22		170
	$	10,442	$	13,107	$	12,030