Short-Term Borrowings and Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt

The following table presents details of the Company’s short-term and BTFP borrowings, FHLB advances, and long-term debt as of March 31, 2024 and December 31, 2023:

			March 31, 2024		December 31, 2023
($ in thousands)	Interest Rates	Maturity Dates	Amount		Amount
Bank
Short-term borrowings	4.75% — 4.83%	April 2024	$	19,173	$	—
BTFP borrowings	4.37%	3/19/2024	$	—	$	4,500,000
FHLB advances (1) — floating (2)	5.49% — 5.56%	2024 — 2025	$	3,500,000	$	—
Parent company
Junior subordinated debt (3) — floating (2)	7.14%	12/15/2035	$	31,768	$	148,249

(1)The weighted-average interest rates for FHLB advances were 5.52% as of March 31, 2024.

(2)Floating interest rates are based on the Secured Overnight Financing Rate plus the established spread.

(3)The weighted-average interest rates for junior subordinated debt were 7.14% and 6.87% as of March 31, 2024 and December 31, 2023, respectively.