Borrowed Funds (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of Short-Term Borrowings

Short-term borrowings at June 30, 2021 and December 31, 2020 consisted of the following:

	June 30, 2021		December 31, 2020
	(in thousands)
FHLB advances	$	700,000	$	1,000,000
Securities sold under agreements to repurchase	154,378		147,958
Total short-term borrowings	$	854,378	$	1,147,958

Schedule of Long-Term Borrowings

Long-term borrowings at June 30, 2021 and December 31, 2020 consisted of the following:

	June 30, 2021		December 31, 2020
	(in thousands)
FHLB advances, net (1)	$	947,206	$	1,592,252
Subordinated debt, net (2)	638,484		403,413
Securities sold under agreements to repurchase	300,000		300,000
Total long-term borrowings	$	1,885,690	$	2,295,665

(1)	FHLB advances are presented net of unamortized prepayment penalties and other purchase accounting adjustments totaling $2.6 million at December 31, 2020.
(2)	Subordinated debt is presented net of unamortized debt issuance costs totaling $6.4 billion and $2.7 million at June 30, 2021 and December 31, 2020, respectively.

Schedule of FHLB Repayment

The long-term FHLB advances at June 30, 2021 are scheduled for contractual balance repayments as follows:

Year	Amount
	(in thousands)
2021	$	157,870
2023	350,000
2024	165,000
2025	273,000
Total long-term FHLB advances	$	945,870