Short and Long-Term Funding (Tables)

9 Months Ended

Sep. 30, 2024

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, 2024		Dec 31, 2023
Short-term funding
Federal funds purchased	$	306,040	$	220,160
Securities sold under agreements to repurchase	110,988		106,620
Federal funds purchased and securities sold under agreements to repurchase	417,028		326,780
BTFP funding	500,000		—
Total short-term funding	$	917,028	$	326,780
Long-term funding
Corporation senior notes, at par	$	300,000	$	—
Corporation subordinated notes, at par	550,000		550,000
Discount and capitalized costs	(8,807)		(7,748)
Subordinated debt fair value hedge(a)	2,832		(1,366)
Finance leases	317		383
Total long-term funding	$	844,342	$	541,269
Total short and long-term funding, excluding FHLB advances	$	1,761,370	$	868,049
FHLB advances
Short-term FHLB advances	$	705,000	$	740,000
Long-term FHLB advances	1,211,835		1,209,907
FHLB advances fair value hedge(a)	(3,541)		(9,713)
Total FHLB advances	$	1,913,294	$	1,940,194
Total short and long-term funding	$	3,674,663	$	2,808,243

(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 September 30, 2024 and December 31, 2023 are presented in the following table:

	Overnight and Continuous
($ in thousands)	Sep 30, 2024		Dec 31, 2023
Repurchase agreements
Agency mortgage-related securities	$	110,988	$	106,620