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BORROWINGS (Tables)
9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Summary of Borrowings
The following table summarizes the Corporation’s borrowings as of September 30, 2024 and December 31, 2023:
September 30, 2024December 31, 2023
Federal funds purchased$30,000 $— 
Securities sold under repurchase agreements124,894 157,280 
Federal Home Loan Bank advances832,629 712,852 
Subordinated debentures and other borrowings93,562 158,644 
Total Borrowings$1,081,085 $1,028,776 
Summary of Collateral Pledged for Repurchase Agreements
The collateral pledged for all repurchase agreements that are accounted for as secured borrowings as of September 30, 2024 and December 31, 2023 were:
September 30, 2024
Remaining Contractual Maturity of the Agreements
Overnight and ContinuousUp to 30 Days30-90 DaysGreater Than 90 DaysTotal
U.S. Government-sponsored mortgage-backed securities$124,894 $— $— $— $124,894 
December 31, 2023
Remaining Contractual Maturity of the Agreements
Overnight and ContinuousUp to 30 Days30-90 DaysGreater Than 90 DaysTotal
U.S. Government-sponsored mortgage-backed securities$157,280 $— $— $— $157,280 
Summary of Contractual Maturities of Borrowings
Contractual maturities of borrowings as of September 30, 2024, are as follows:
Maturities in Years Ending December 31:Federal Funds PurchasedSecurities Sold
Under Repurchase Agreements
Federal Home
Loan Bank
Advances
Subordinated
Debentures and
Term Loans
2024$30,000 $124,894 $10,000 $1,164 
2025— — 95,000 — 
2026— — 75,000 — 
2027— — 250,000 — 
2028— — 190,000 5,000 
2029 and after— — 212,629 90,846 
ASC 805 fair value adjustments at acquisition— — — (3,448)
$30,000 $124,894 $832,629 $93,562