Borrowings (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of Repurchase Agreements

The following table summarizes securities sold under agreements to repurchase and other borrowings:

	At June 30, 2021				At December 31, 2020
(Dollars in thousands)	Total Outstanding		Rate		Total Outstanding		Rate
Securities sold under agreements to repurchase (1):
Original maturity of one year or less	$	307,124	0.11	%	$	269,330	0.13	%
Original maturity of greater than one year, non-callable	200,000		1.47		200,000		0.84
Total securities sold under agreements to repurchase	507,124		0.65		469,330		0.43
Fed funds purchased	—		—		526,025		0.08
Securities sold under agreements to repurchase and other borrowings	$	507,124	0.65		$	995,355	0.25

Federal Home Loan Bank, Advances

The following table provides information for FHLB advances:

	At June 30, 2021				At December 31, 2020
(Dollars in thousands)	Total Outstanding		Weighted- Average Contractual Coupon Rate		Total Outstanding		Weighted- Average Contractual Coupon Rate
Maturing within 1 year	$	25,000	0.33	%	$	25,000	0.38	%
After 1 but within 2 years	100		—		110		—
After 2 but within 3 years	208		2.95		215		2.95
After 3 but within 4 years	100,000		1.50		50,000		1.59
After 4 but within 5 years	—		—		50,000		1.42
After 5 years	13,136		2.56		7,839		2.66
FHLB advances	$	138,444	1.39		$	133,164	1.36
Aggregate carrying value of assets pledged as collateral	$	7,004,625			$	7,387,054
Remaining borrowing capacity	4,528,972				4,689,642

Schedule of Long-term Debt Instruments

The following table summarizes long-term debt:

(Dollars in thousands)		At June 30, 2021		At December 31, 2020
4.375%	Senior fixed-rate notes due February 15, 2024	$	150,000	$	150,000
4.100%	Senior fixed-rate notes due March 25, 2029 (1)	341,488		344,164
Junior subordinated debt Webster Statutory Trust I floating-rate notes due September 17, 2033 (2)		77,320		77,320
Total notes and subordinated debt		568,808		571,484
Discount on senior fixed-rate notes		(1,084)		(1,193)
Debt issuance cost on senior fixed-rate notes		(2,427)		(2,628)
Long-term debt		$	565,297	$	567,663

(1)The Company de-designated its fair value hedging relationship on these notes. A basis adjustment is included in the carrying value, which is being amortized over the remaining life of the notes.

(2)The interest rate on Webster Statutory Trust I floating-rate notes, which varies quarterly based on 3-month LIBOR plus 2.95%, was 3.07% at June 30, 2021 and 3.18% at December 31, 2020.