Borrowings (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Schedule of Repurchase Agreements

		September 30, 2021		December 31, 2020
			Repurchase		Repurchase
(In thousands)			liability		liability
U.S. Treasury securities
	Within 30 days	$	14,574	$	67,157
	After 30 to 90 days		20,394		39,318
	After 90 days		39,638		9,979
Total U.S. Treasury securities			74,606		116,454
Mortgage-backed securities
	Within 30 days		1,427		3,778
	After 30 to 90 days		-		268
	After 90 days		9,868		-
Total mortgage-backed securities			11,295		4,046
Collateralized mortgage obligations
	Within 30 days		569		803
Total collateralized mortgage obligations			569		803
Total		$	86,470	$	121,303

Notes Payable

The following table presents the composition of notes payable at September 30, 2021 and December 31, 2020.

(In thousands)	September 30, 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 3.18%	$	494,469	$	542,469
Advances with the FRB maturing on 2022 paying interest annually at a fixed rate of 0.35%[1]		-		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 $ 2,475		297,525		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 $349		384,949		384,929
Total notes payable	$	1,176,943	$	1,224,981
[1] During the second quarter of 2021, the Paycheck Protection Program Liquidity Facility advance was prepaid.
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 September 30, 2021 is included in the table below.

		Assets sold under
(In thousands)		agreements to repurchase		Notes payable	Total
2021	$	36,964	$	2,040	$	39,004
2022		49,506		103,148		152,654
2023		-		340,786		340,786
2024		-		91,943		91,943
2025		-		139,920		139,920
Later years		-		499,106		499,106
Total borrowings	$	86,470	$	1,176,943	$	1,263,413