Short and Long-term Funding (Tables)

12 Months Ended

Dec. 31, 2022

The following table presents the components of short-term funding (funding with original contractual maturities of one year or less), and long-term funding (funding with original contractual maturities greater than one year):


($ in Thousands)	December 31, 2022		December 31, 2021
Short-Term Funding
Federal funds purchased	$	344,170	$	120
Securities sold under agreements to repurchase	240,969		319,412
Federal funds purchased and securities sold under agreements to repurchase	585,139		319,532
Commercial paper	20,798		34,730
Total short-term funding	$	605,937	$	354,262
Long-Term Funding

Corporation subordinated notes, at par	$	250,000	$	250,000
Capitalized costs	(544)		(839)
Subordinated debt fair value hedge liability(a)	(1,855)		—
Finance leases	469		163

Total long-term funding	$	248,071	$	249,324
Total short and long-term funding, excluding FHLB advances	$	854,007	$	603,587
FHLB Advances
Short-term FHLB advances	$	3,125,000	$	—
Long-term FHLB advances	1,209,170		1,621,047
FHLB advances fair value hedge liability(a)	(14,308)		—
Total FHLB advances	$	4,319,861	$	1,621,047
Total short and long-term funding	$	5,173,869	$	2,224,633

(a) For additional information on the fair value hedge liability, see Note 14.

Schedule of Repurchase Agreements

The remaining contractual maturity of the securities sold under agreements to repurchase on the consolidated balance sheets as of December 31, 2022 and 2021 are presented in the following table:


	Overnight and Continuous
($ in Thousands)	December 31, 2022		December 31, 2021
Repurchase agreements
Agency mortgage-related securities	$	240,969	$	319,412

Schedule of Maturities of Long-term Debt [Table Text Block]

The table below summarizes the expected maturities of the Corporation’s long-term funding at December 31, 2022:


($ in Thousands)	Long Term Funding
Year
2023	$	476
2024	248,234
2025	392,488
2026	604,695
2027	671
Beyond 2027	196,368
Total long-term funding	$	1,442,932