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

9 Months Ended

Sep. 30, 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 September 30, 2024 and December 31, 2023:

			September 30, 2024		December 31, 2023
($ in thousands)	Interest Rates	Maturity Dates	Amount		Amount
Parent company
Junior subordinated debt (1) — floating (2)	6.76%	12/15/2035	$	31,923	$	148,249
Bank
BTFP borrowings	4.37%	03/19/2024	$	—	$	4,500,000
FHLB advances (3):
Floating (2)	5.02% — 5.07%	2025	$	3,000,000	$	—
Fixed	3.87% — 3.95%	2026	500,000		—
Total FHLB advances			$	3,500,000	$	—

(1)The weighted-average interest rates for junior subordinated debt were 6.76% and 6.87% as of September 30, 2024 and December 31, 2023, respectively.

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

(3)The weighted-average interest rate for FHLB advances was 4.88% as of September 30, 2024.