Borrowed Funds (Tables)

9 Months Ended

Sep. 30, 2023

Component of Short-Term and Long Term Debt

The components of the Company's short-term and long-term debt are as follows (in thousands):

	September 30, 2023		December 31, 2022
Short-term debt:
Federal Home Loan Bank 5.04% due 2024	$	1,000,000	$	—
Federal Home Loan Bank 5.47% due 2023		500,000		—
Federal Reserve Bank Term Funding Program 4.70% due 2023		800,000		—
Total short-term debt		2,300,000		—
Long-term debt:
Trust Preferred Securities:
Marquette Capital Trust I Subordinated Debentures 6.36% due 2036		18,538		18,319
Marquette Capital Trust II Subordinated Debentures 6.36% due 2036		19,067		18,863
Marquette Capital Trust III Subordinated Debentures 7.16% due 2036		7,492		7,415
Marquette Capital Trust IV Subordinated Debentures 7.27% due 2036		30,256		29,956
Subordinated notes 3.70% due 2030, net of issuance costs		199,118		198,781
Subordinated notes 6.25% due 2032, net issuance costs		108,297		107,977
Total long-term debt		382,768		381,311
Total borrowed funds	$	2,682,768	$	381,311

Repurchase Agreements

Remaining Contractual Maturities Of Repurchase Agreements

The table below presents the remaining contractual maturities of repurchase agreements outstanding at September 30, 2023 and December 31, 2022, in addition to the various types of marketable securities that have been pledged as collateral for these borrowings (in thousands):

	As of September 30, 2023
	Remaining Contractual Maturities of the Agreements
	2-29 Days		30-90 Days		Over 90 Days		Total
Repurchase agreements, secured by:
U.S. Treasury	$	36,312	$	—	$	43,440	$	79,752
U.S. Agencies		1,411,134		171,442		46,060		1,628,636
Total repurchase agreements	$	1,447,446	$	171,442	$	89,500	$	1,708,388

	As of December 31, 2022
	Remaining Contractual Maturities of the Agreements
	2-29 Days		30-90 Days		Total
Repurchase agreements, secured by:
U.S. Treasury	$	33,888	$	—	$	33,888
U.S. Agencies		1,835,298		290,501		2,125,799
Total repurchase agreements	$	1,869,186	$	290,501	$	2,159,687