Short and Long-Term Funding (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

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) and long-term funding (funding with original contractual maturities greater than one year):

($ in Thousands)	Sep 30, 2022		Dec 31, 2021
Short-Term Funding
Federal funds purchased	$	505	$	120
Securities sold under agreements to repurchase	276,169		319,412
Federal funds purchased and securities sold under agreements to repurchase	276,674		319,532
Commercial paper	7,687		34,730
Total short-term funding	$	284,361	$	354,262
Long-Term Funding
Corporation subordinated notes, at par, due 2025	$	250,000	$	250,000
Capitalized costs	(617)		(839)
Subordinated debt fair value hedge liability(a)	(389)		—
Finance leases	490		163
Total long-term funding	$	249,484	$	249,324
Total short and long-term funding, excluding FHLB advances	$	533,844	$	603,587
FHLB Advances
Short-term FHLB advances	$	2,583,000	$	—
Long-term FHLB advances	1,208,791		1,621,047
FHLB advance fair value hedge liability(a)	(14,314)		—
Total FHLB advances	$	3,777,478	$	1,621,047
Total short and long-term funding	$	4,311,322	$	2,224,633

(a) For additional information on the fair value hedge liability, see Note 10.

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, 2022 and December 31, 2021 are presented in the following table:

	Overnight and Continuous
($ in Thousands)	Sep 30, 2022		Dec 31, 2021
Repurchase agreements
Agency mortgage-related securities	$	276,169	$	319,412