Short and Long-Term Funding (Tables)

3 Months Ended

Mar. 31, 2023

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)	Mar 31, 2023		Dec 31, 2022
Short-term funding
Federal funds purchased	$	350	$	344,170
Securities sold under agreements to repurchase	208,048		240,969
Federal funds purchased and securities sold under agreements to repurchase	208,398		585,139
Commercial paper	18,210		20,798
Total short-term funding	$	226,608	$	605,937
Long-term funding
Corporation subordinated notes, at par	$	550,000	$	250,000
Discount and capitalized costs	(8,513)		(544)
Subordinated debt fair value hedge(a)	2,168		(1,855)
Finance leases	448		469
Total long-term funding	$	544,103	$	248,071
Total short and long-term funding, excluding FHLB advances	$	770,711	$	854,007
FHLB advances
Short-term FHLB advances	$	3,785,000	$	3,125,000
Long-term FHLB advances	1,208,745		1,209,170
FHLB advances fair value hedge(a)	(7,607)		(14,308)
Total FHLB advances	$	4,986,138	$	4,319,861
Total short and long-term funding	$	5,756,849	$	5,173,869

(a) For additional information on the fair value hedges, see Note 9.

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 March 31, 2023 and December 31, 2022 are presented in the following table:

	Overnight and Continuous
($ in thousands)	Mar 31, 2023		Dec 31, 2022
Repurchase agreements
Agency mortgage-related securities	$	208,048	$	240,969