Borrowings (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Schedule of Repurchase Agreements

		March 31, 2021		December 31, 2020
			Repurchase		Repurchase
(In thousands)			liability		liability
U.S. Treasury securities
	Within 30 days	$	14,665	$	67,157
	After 30 to 90 days		14,732		39,318
	After 90 days		44,796		9,979
Total U.S. Treasury securities			74,193		116,454
Mortgage-backed securities
	Within 30 days		2,129		3,778
	After 30 to 90 days		-		268
	After 90 days		9,735		-
Total mortgage-backed securities			11,864		4,046
Collateralized mortgage obligations
	Within 30 days		777		803
Total collateralized mortgage obligations			777		803
Total		$	86,834	$	121,303

Notes Payable

The following table presents the composition of notes payable at March 31, 2021 and December 31, 2020.

(In thousands)	March 31, 2021		December 31, 2020
Advances with the FHLB with maturities ranging from 2021 through 2029 paying interest at monthly fixed rates ranging from 0.39% to 4.19%	$	541,469	$	542,469
Advances with the FRB maturing on 2022 paying interest annually at a fixed rate of 0.35%		934		1,009
Unsecured senior debt securities maturing on 2023 paying interest semiannually at a fixed rate of 6.125%, net of debt issuance costs of $ 3,109		296,891		296,574
Junior subordinated deferrable interest debentures (related to trust preferred securities) with maturities ranging from 2033 to 2034 with fixed interest rates ranging from 6.125% to 6.7%, net of debt issuance costs of $362		384,936		384,929
Total notes payable	$	1,224,230	$	1,224,981
Note: Refer to the Corporation's 2020 Form 10-K for rates information at December 31, 2020.

Maturity distribution of debt securities

A breakdown of borrowings by contractual maturities at March 31, 2021 is included in the table below.

		Assets sold under
(In thousands)		agreements to repurchase		Notes payable	Total
2021	$	62,099	$	49,040	$	111,139
2022		24,735		104,081		128,816
2023		-		340,152		340,152
2024		-		91,944		91,944
2025		-		139,920		139,920
Later years		-		499,093		499,093
Total borrowings	$	86,834	$	1,224,230	$	1,311,064