Borrowings (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of repurchase agreements

Repurchase agreements accounted for as secured borrowings

		September 30, 2022		December 31, 2021
			Repurchase		Repurchase
(In thousands)			liability		liability
U.S. Treasury securities
	Within 30 days	$	27,381	$	19,538
	After 30 to 90 days		13,790		30,295
	After 90 days		17,448		29,036
Total U.S. Treasury securities			58,619		78,869
Mortgage-backed securities
	Within 30 days		96,572		11,733
	After 90 days		6,980		722
Total mortgage-backed securities			103,552		12,455
Collateralized mortgage obligations
	Within 30 days		279		279
Total collateralized mortgage obligations			279		279
Total		$	162,450	$	91,603

Notes payable

Notes Payable

The following table presents the composition of notes payable at September 30, 2022 and December 31, 2021.

(In thousands)	September 30, 2022		December 31, 2021
Advances with the FHLB with maturities ranging from 2022 through 2029 paying interest at monthly fixed rates ranging from 0.39% to 3.18%	$	391,429	$	492,429
Unsecured senior debt securities maturing on 2023 paying interest semiannually at a fixed rate of 6.125%, net of debt issuance costs of $1,208		298,793		297,842
Junior subordinated deferrable interest debentures (related to trust preferred securities) maturing on 2034 with fixed interest rates ranging from 6.125% to 6.564%, net of debt issuance costs of $322		198,312		198,292
Total notes payable	$	888,534	$	988,563
Note: Refer to the Corporation's 2021 Form 10-K for rates information at December 31, 2021.

Borrowings by contractual maturities

A breakdown of borrowings by contractual maturities at September 30, 2022 is included in the table below.

		Assets sold under		Short-term
(In thousands)		agreements to repurchase		borrowings		Notes payable	Total
2022	$	138,022	$	250,000	$	2,148	$	390,170
2023		24,428		-		342,053		366,481
2024		-		-		91,943		91,943
2025		-		-		139,920		139,920
2026		-		-		74,500		74,500
Later years		-		-		237,970		237,970
Total borrowings	$	162,450	$	250,000	$	888,534	$	1,300,984