Short-Term Borrowings and Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Short-Term Borrowings and Long-Term Debt [Abstract]

Schedule of Short-term Debt

Short-term borrowings as of December 31, 2020, 2019 and 2018 and the related maximum amounts outstanding at the end of any month in each of the three years then ended are presented below. The securities underlying the repurchase agreements remain in AFS investment securities.

	December 31						Maximum Outstanding
	2020		2019		2018		2020		2019		2018
	(in thousands)
Federal funds purchased	$	—	$	—	$	—	$	200,000	$	274,998	$	525,000
Short-term FHLB advances (1)	—		500,000		385,000		980,000		825,000		385,000
Customer funding (2)	630,066		383,241		369,777		630,066		404,207		547,678
Total short-term borrowings	$	630,066	$	883,241	$	754,777

(1) Represents FHLB advances with an original maturity term of less than one year.

(2) Includes repurchase agreements and short-term promissory notes.

Schedule of Long-term Debt Instruments

FHLB advances with an original maturity of one year or more and long-term borrowings included the following as of December 31:

	2020		2019
	(in thousands)
FHLB advances	$	535,973	$	491,024
Subordinated debt	625,000		250,000
Senior notes	125,000		125,000
Junior subordinated deferrable interest debentures	16,496		16,496
Unamortized discounts and issuance costs	(6,206)		(751)
Total long-term borrowings	$	1,296,263	$	881,769

Schedule of Maturities of Long-term Debt

The following table summarizes the scheduled maturities of FHLB advances with an original maturity of one year or more and long-term borrowings as of December 31, 2020 (in thousands):

Year
2021	$	—
2022	178,857
2023	214,241
2024	489,190
2025	24,675
Thereafter	389,300
	$	1,296,263

Schedule of Subordinated Borrowing

The following table provides details of the debentures as of December 31, 2020 (dollars in thousands):

Debentures Issued to	Fixed/ Variable	Interest Rate		Amount		Maturity	Callable	Call Price
Columbia Bancorp Statutory Trust	Variable	2.96	%	$	6,186	06/30/34	03/31/21	100.0
Columbia Bancorp Statutory Trust II	Variable	2.14	%	4,124		03/15/35	03/15/21	100.0
Columbia Bancorp Statutory Trust III	Variable	2.02	%	6,186		06/15/35	03/15/21	100.0
				$	16,496