Borrowed Funds (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of Short-Term Borrowings

Short-term borrowings at September 30, 2020 and December 31, 2019 consisted of the following: 

	September 30, 2020		December 31, 2019
	(in thousands)
FHLB advances	$	1,275,000	$	940,000
Securities sold under agreements to repurchase	155,726		153,280
Total short-term borrowings	$	1,430,726	$	1,093,280

Schedule of Long-Term Borrowings

Long-term borrowings at September 30, 2020 and December 31, 2019 consisted of the following: 

	September 30, 2020		December 31, 2019
	(in thousands)
FHLB advances, net (1)	$	2,148,633	$	1,480,012
Subordinated debt, net (2)	403,936		292,414
Securities sold under agreements to repurchase	300,000		350,000
Total long-term borrowings	$	2,852,569	$	2,122,426

(1)	FHLB advances are presented net of unamortized prepayment penalties and other purchase accounting adjustments totaling $503 thousand and $2.8 million at September 30, 2020 and December 31, 2019, respectively.
(2)	Subordinated debt is presented net of unamortized debt issuance costs totaling $2.8 million and $1.2 million at September 30, 2020 and December 31, 2019, respectively.

Schedule of FHLB Repayment

The long-term FHLB advances at September 30, 2020 are scheduled for contractual balance repayments as follows: 

Year	Amount
	(in thousands)
2020	$	25,000
2021	994,768
2022	121,420
2023	428,163
2024	300,000
Thereafter	279,785
Total long-term FHLB advances	$	2,149,136