Short and Long-Term Funding (Tables)

9 Months Ended

Sep. 30, 2020

Breakdown of short & long-term debt balances

The following table presents the components of short-term funding (funding with original contractual maturities of one year or less), long-term funding (funding with original contractual maturities greater than one year), and FHLB advances (funding based on original contractual maturities):


($ in Thousands)	September 30, 2020		December 31, 2019
Short-Term Funding
Federal funds purchased	$	7,575	$	362,000
Securities sold under agreements to repurchase	147,754		71,097
Federal funds purchased and securities sold under agreements to repurchase	155,329		433,097
Commercial paper	50,987		32,016
Total short-term funding	$	206,316	$	465,113
Long-Term Funding

Bank senior notes, at par, due 2021	$	300,000	$	300,000
Corporation subordinated notes, at par, due 2025	250,000		250,000
PPPLF	1,022,217		—
Finance leases	1,165		2,209
Capitalized costs	(1,964)		(2,866)
Total long-term funding	1,571,418		549,343
Total short and long-term funding, excluding FHLB advances	$	1,777,735	$	1,014,456
FHLB Advances
Short-term FHLB advances	$	—	$	520,000
Long-term FHLB advances	1,706,763		2,660,967
Total FHLB advances	$	1,706,763	$	3,180,967

Total short and long-term funding	$	3,484,498	$	4,195,422

Remaining contractual maturity of securities sold under agreements to repurchase

The remaining contractual maturity of the securities sold under agreements to repurchase on the consolidated balance sheets as of September 30, 2020 and December 31, 2019 are presented in the following table:


	Remaining Contractual Maturity of the Agreements
($ in Thousands)	Overnight and Continuous		Up to 30 days		30-90 days		Greater than 90 days		Total
September 30, 2020
Repurchase agreements
Agency mortgage-related securities	$	147,754	$	—	$	—	$	—	$	147,754
Total	$	147,754	$	—	$	—	$	—	$	147,754
December 31, 2019
Repurchase agreements
Agency mortgage-related securities	$	71,097	$	—	$	—	$	—	$	71,097
Total	$	71,097	$	—	$	—	$	—	$	71,097