Borrowed Funds (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Schedule of Short-Term Borrowings

Short-term borrowings at September 30, 2021 and December 31, 2020 consisted of the following:

	September 30, 2021		December 31, 2020
	(in thousands)
FHLB advances	$	600,000	$	1,000,000
Securities sold under agreements to repurchase	183,346		147,958
Total short-term borrowings	$	783,346	$	1,147,958

Schedule of Long-Term Borrowings

Long-term borrowings at September 30, 2021 and December 31, 2020 consisted of the following:

	September 30, 2021		December 31, 2020
	(in thousands)
FHLB advances, net (1)	$	789,185	$	1,592,252
Subordinated debt, net (2)	638,259		403,413
Securities sold under agreements to repurchase	—		300,000
Total long-term borrowings	$	1,427,444	$	2,295,665

(1)	FHLB advances is presented net of unamortized prepayment penalties and other purchase accounting adjustments totaling $2.6 million at December 31, 2020. The prepayment penalties and other purchase accounting adjustments were fully amortized at September 30, 2021.
(2)	Subordinated debt is presented net of unamortized debt issuance costs totaling $6.1 million and $2.7 million at September 30, 2021 and December 31, 2020, respectively.

Schedule of FHLB Repayment

The long-term FHLB advances at September 30, 2021 are scheduled for contractual balance repayments as follows:

Year	Amount
	(in thousands)
2023	$	350,000
2024	165,000
2025	273,000
Total long-term FHLB advances	$	788,000