Short-Term Borrowings and Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Outstanding Short Term Borrowings and Long Term Debt

The following table represents outstanding short-term borrowings and long-term debt at September 30, 2019 and December 31, 2018:

				Carrying Value
(Dollars in thousands)	Maturity	Principal value at September 30, 2019		September 30, 2019		December 31, 2018
Short-term borrowings:
Short-term FHLB advances				$	—	$	300,000
Securities sold under agreement to repurchase	(1)			—		319,414
Other short-term borrowings	(2)	$	18,898	18,898		11,998
Total short-term borrowings				$	18,898	$	631,412
Long-term debt:
3.50% Senior Notes	January 29, 2025	$	350,000	$	347,899	$	347,639
5.375% Senior Notes	September 15, 2020	350,000		349,328		348,826
Total long-term debt				$	697,227	$	696,465

(1) Securities sold under repurchase agreements are effectively short-term borrowings collateralized by U.S. Treasury securities.

(2)

Represents cash collateral received from certain counterparties in relation to market value exposures of derivative contracts in our favor.