Other Borrowed Funds

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Long-Term Debt

At September 30, 2023, the Company had $2,067.0 million in outstanding FHLB borrowings, as compared to $2,327.0 million outstanding borrowings with the FHLB at December 31, 2022. At September 30, 2023, the Company has remaining available lines of credit with the FHLB of approximately $4,764.4 million, subject to collateral availability. The borrowings are collateralized by certain loans and securities with an advance equivalent collateral value of $6,831.4 million. As of September 30, 2023 and December 31, 2022, there were no long or short-term advances outstanding with the FHLB. As of September 30, 2023 and December 31, 2022, the Company had no other material outstanding borrowings classified as other borrowed funds.

The following table presents outstanding FHLB borrowings by maturity buckets for the dates indicated:

As of September 30, 2023	Average Rate		Outstanding Balance
Fixed rate borrowings with tenors of up to one week	5.52	%	$	106.0
Fixed rate borrowings with tenors of up to two weeks	5.51		100.0
Fixed rate borrowings with tenors of up to one month	5.50		925.0
Two-month fixed rate borrowings	5.56		500.0
Five-month fixed rate borrowings	5.56		436.0
			$	2,067.0
As of December 31, 2022	Rate		Outstanding Balance
Variable rate overnight borrowings	4.60	%	$	827.0
Fixed rate borrowings in tenors of up to one month	4.48		1,500.0
			$	2,327.0