BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2023

The following table provides information on subordinated debentures for the period indicated:


(In thousands)	2023		2022
Fixed to floating rate sub debt, 3.875%	$	200,000	$	200,000
Fixed to floating rate sub debt, 4.25%	175,000		175,000
Total subordinated debt	375,000		375,000
Less: Debt issuance costs	(4,197)		(4,795)




Long-term borrowings	$	370,803	$	370,205

Retail Repurchase Agreements and Federal Funds Purchased

Information relating to retail repurchase agreements and federal funds purchased is presented in the following table at and for the years ending December 31:


	2023				2022
(Dollars in thousands)	Amount		Rate		Amount		Rate
End of period:
Retail repurchase agreements	$	75,032	2.00	%	$	61,967	0.11	%
Federal funds purchased	—		—		260,000		4.18
Federal Reserve Bank borrowings	300,000		4.92		—		—
Average for the year:
Retail repurchase agreements	$	63,259	1.45	%	$	108,273	0.11	%
Federal funds purchased	69,672		5.15		107,785		2.60
Federal Reserve Bank borrowings	201,370		4.94		—		—
Maximum month-end balance:
Retail repurchase agreements	$	78,239			$	139,416
Federal funds purchased	330,000				260,000
Federal Reserve Bank borrowings	300,000				—

Advances from the FHLB and the Respective Maturity Schedule

Advances from the FHLB and the respective maturity schedule at December 31 for the years indicated consisted of the following:


	2023				2022
(Dollars in thousands)	Amounts		Weighted Average Rate		Amounts		Weighted Average Rate
Maturity:
One year	$	250,000	4.60	%	$	350,000	4.28	%
Two years	150,000		4.16		50,000		4.66
Three years	100,000		4.03		50,000		4.28
Four years	50,000		4.08		50,000		4.16
Five years	—		—		50,000		4.08
After five years	—		—		—		—
Total advances from FHLB	$	550,000	4.33		$	550,000	4.29