Borrowed Funds (Tables)

3 Months Ended

Mar. 31, 2024

Borrowed funds as of March 31, 2024 and December 31, 2023 are summarized as follows (in thousands):


	March 31, 2024		December 31, 2023
Securities sold under repurchase agreements	$	89,241	72,161
FHLB line of credit	149,000		148,000
FHLB advances	1,269,857		1,299,872
FRB BTFP Borrowing	550,000		450,000
Total Borrowed Funds	$	2,058,098	1,970,033

Scheduled maturities of FHLB advances and lines of credit as of March 31, 2024 are as follows (in thousands):


	2024
Due in one year or less	$	1,363,650
Due after one year through two years	272,762
Due after two years through three years	282,445
Due after three years through four years	50,000

Thereafter	—
Total FHLB advances and overnight borrowings	$	1,968,857

Scheduled maturities of securities sold under repurchase agreements as of March 31, 2024 are as follows (in thousands):


	2024
Due in one year or less	$	89,241




Thereafter	—
Total securities sold under repurchase agreements	$	89,241

The following tables set forth certain information as to borrowed funds for the periods ended March 31, 2024 and December 31, 2023 (in thousands):


	Maximum balance		Average balance	Weighted average interest rate
March 31, 2024
Securities sold under repurchase agreements	$	89,241	77,928	1.86	%
FHLB overnight borrowings	149,000		61,648	5.45
FHLB advances	1,299,867		1,262,614	3.11
FRB BTFP Borrowing	550,000		538,791	4.77
December 31, 2023
Securities sold under repurchase agreements	$	99,669	87,227	1.69	%
FHLB overnight borrowings	500,000		262,289	5.29
FHLB advances	1,592,277		1,282,124	3.14
FRB BTFP Borrowing	450,000		4,932	4.83