Short-Term Borrowings (Tables)

9 Months Ended

Sep. 30, 2022

Short-Term Debt [Abstract]

Summary of Information Concerning Short-term Borrowings

The following table presents information concerning short-term borrowings at September 30, 2022 and December 31, 2021.

	September 30,			December 31,
(in thousands)	2022			2021
Federal funds purchased:
Amount outstanding at period end	$	1,850		$	1,850
Weighted-average interest at period end		2.65	%		0.15	%
Securities sold under agreements to repurchase:
Amount outstanding at period end	$	541,131		$	563,211
Weighted-average interest at period end		0.16	%		0.05	%
FHLB borrowings:
Amount outstanding at period end	$	1,000,000		$	1,100,000
Weighted-average interest at period end		3.15	%		0.49	%

The following table presents information concerning short-term borrowings for the three and nine months ended September 30, 2022 and 2021.

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2022			2021			2022			2021
Federal funds purchased:
Average amount outstanding during period	$	28,861		$	3,283		$	11,425		$	4,284
Maximum amount at any month end during period	$	1,850		$	4,300		$	2,350		$	4,400
Weighted-average interest rate during period		2.59	%		0.23	%		2.29	%		0.46	%
Securities sold under agreements to repurchase:
Average amount outstanding during period	$	516,546		$	508,969		$	542,105		$	549,315
Maximum amount at any month end during period	$	541,131		$	643,403		$	640,592		$	643,403
Weighted-average interest rate during period		0.13	%		0.08	%		0.09	%		0.12	%
FHLB borrowings:
Average amount outstanding during period	$	405,163		$	1,100,000		$	731,982		$	1,100,000
Maximum amount at any month end during period	$	1,000,000		$	1,100,000		$	1,100,000		$	1,100,000
Weighted-average interest rate during period		2.34	%		0.49	%		0.84	%		0.49	%