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Borrowed Funds
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Borrowed Funds Borrowed Funds
Borrowed funds at June 30, 2024 and December 31, 2023 were as follows (in thousands):
June 30,December 31,
20242023
FHLB advances$789,337 $848,636 
Securities sold under agreements to repurchase with customers80,000 73,148 
Other borrowings424,490 196,456 
Total borrowed funds$1,293,827 $1,118,240 
At June 30, 2024, there were $684.8 million of short-term advances and $104.5 million outstanding in overnight borrowings from the FHLB, as compared to $848.6 million and $0 at December 31, 2023, respectively.
At June 30, 2024, there were $424.5 million of other borrowings as compared to $196.5 million at December 31, 2023 due to a shift in funding sources from FHLB to other borrowings.
Pledged assets
The following table presents the assets pledged to secure borrowings, borrowing capacity, repurchase agreements, letters of credit, and for other purposes required by law at carrying value (in thousands):
LoansDebt securitiesTotal
June 30, 2024
FHLB and FRB$7,371,979 $1,164,150 $8,536,129 
Repurchase agreements— 91,946 91,946 
Total pledged assets$7,371,979 $1,256,096 $8,628,075 
December 31, 2023
FHLB and FRB$7,255,671 $1,051,558 $8,307,229 
Repurchase agreements— 103,416 103,416 
Total pledged assets$7,255,671 $1,154,974 $8,410,645 

The securities that collateralize the repurchase agreements are delivered to the lender, with whom each transaction is executed, to a third-party custodian, or held at the Company. The lender agrees to resell to the Company substantially the same securities at the maturity of the repurchase agreements.