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

12 Months Ended

Dec. 31, 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 December 31, 2019 and 2018:

				Carrying Value
(Dollars in thousands)	Maturity	Principal value at December 31, 2019		December 31, 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)	$	17,430	17,430		11,998
Total short-term borrowings				$	17,430	$	631,412
Long-term debt:
3.50% Senior Notes	January 29, 2025	$	350,000	$	347,987	$	347,639
5.375% Senior Notes				—		348,826
Total long-term debt				$	347,987	$	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.

Aggregate Annual Maturities of Long-Term Debt Obligations

The aggregate annual maturities of long-term debt obligations as of December 31, 2019 are as follows:

Year ended December 31, (Dollars in thousands)	Amount
2020	$	—
2021	—
2022	—
2023	—
2024	—
2025 and thereafter	347,987
Total	$	347,987