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Borrowings (Tables)
3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Schedule of repurchase agreements
Repurchase agreements accounted for as secured borrowings
March 31, 2023
December 31, 2022
Repurchase
Repurchase
(In thousands)
 
liability
 
liability
U.S. Treasury securities
Within 30 days
$
17,521
$
410
After 30 to 90 days
21,607
30,739
After 90 days
8,788
17,521
Total U.S. Treasury
 
securities
47,916
48,670
Mortgage-backed securities
 
Within 30 days
25,106
98,984
 
After 30 to 90 days
791
791
 
After 90 days
49,474
-
Total mortgage-backed
 
securities
75,371
99,775
Collateralized mortgage obligations
 
Within 30 days
212
164
Total collateralized
 
mortgage obligations
212
164
Total
$
123,499
$
148,609
Notes payable
Notes Payable
The following table presents the composition of notes
 
payable at March 31, 2023 and December
 
31, 2022.
(In thousands)
March 31, 2023
December 31, 2022
Advances with the FHLB with maturities ranging from
2023
 
through
2029
 
paying interest at
monthly
fixed rates ranging from
0.39
% to
3.18
%
$
388,282
$
389,282
Unsecured senior debt securities with maturities ranging
 
from
2023
 
to
2028
 
paying interest
semiannually
 
at fixed rates ranging from
6.125
% to
7.25
%, net of debt issuance costs of $
7,481
692,519
299,109
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 $
308
198,326
198,319
Total notes payable
$
1,279,127
$
886,710
Note: Refer to the 2022 Form 10-K for rates information
 
at December 31, 2022.
Borrowings by contractual maturities
A breakdown of borrowings by contractual maturities
 
at March 31, 2023 is included in the table
 
below.
Assets sold under
 
(In thousands)
agreements to
repurchase
Notes payable
Total
2023
$
118,894
$
341,687
$
460,581
2024
4,605
91,943
96,548
2025
-
139,920
139,920
2026
-
74,500
74,500
Later years
-
631,077
631,077
Total borrowings
$
123,499
$
1,279,127
$
1,402,626