Borrowed Funds (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of Short-Term Borrowings

Short-term borrowings at March 31, 2020 and December 31, 2019 consisted of the following: 

	March 31, 2020		December 31, 2019
	(in thousands)
FHLB advances	$	1,510,000	$	940,000
Federal funds purchased	457,000		—
Securities sold under agreements to repurchase	128,655		153,280
Total short-term borrowings	$	2,095,655	$	1,093,280

Schedule of Long-Term Borrowings

Long-term borrowings at March 31, 2020 and December 31, 2019 consisted of the following: 

	March 31, 2020		December 31, 2019
	(in thousands)
FHLB advances, net (1)	$	2,163,754	$	1,480,012
Securities sold under agreements to repurchase	350,000		350,000
Subordinated debt, net (2)	291,857		292,414
Other	28		—
Total long-term borrowings	$	2,805,639	$	2,122,426

(1)	FHLB advances are presented net of unamortized prepayment penalties and other purchase accounting adjustments totaling $2.0 million and $2.8 million at March 31, 2020 and December 31, 2019, respectively.
(2)	Subordinated debt is presented net of unamortized debt issuance costs totaling $1.1 million and $1.2 million at March 31, 2020 and December 31, 2019, respectively.