Subordinated Deferrable Debt (Tables)

12 Months Ended

May 31, 2023

Subordinated Debt [Abstract]

Schedule of subordinated borrowing

The following table presents, by issuance, subordinated deferrable debt outstanding and the weighted-average interest rates as of May 31, 2023 and 2022.

Table 8.1: Subordinated Deferrable Debt Outstanding and Weighted-Average Interest Rates

	May 31,
	2023				2022				Maturity and Call Dates
(Dollars in thousands)	Outstanding Amount		Weighted- Average Interest Rate		Outstanding Amount		Weighted-Average Interest Rate		Term in Years	Maturity	Call Date
Issuances of subordinated notes:
Variable issuance 2013	$	400,000	8.21	%	$	400,000	4.75	%	30	2043	April 30, 2023
5.25% issuance 2016	350,000		5.25		350,000		5.25		30	2046	April 20, 2026
5.50% issuance 2019	250,000		5.50		250,000		5.50		45	2064	May 15, 2024
7.125% issuance 2023	300,000		7.13		—		—		30	2053	June 15, 2028
Total aggregate principal amount	1,300,000				1,000,000
Debt issuance costs	(16,564)				(13,482)
Total subordinated deferrable debt	$	1,283,436	6.64		$	986,518	5.11