Long-Term Debt and Other Borrowed Funds

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Long-Term Debt and Other Borrowed Funds

At March 31, 2025, the Company had $960.0 million in outstanding FHLB borrowings with remaining tenors of up to twelve-months at an average rate of 4.53%, as compared to $1,567.5 million of outstanding FHLB fixed rate borrowings with tenors of up to three-months at an average rate of 4.77% at December 31, 2024. As of March 31, 2025 and December 31, 2024, the Company had no other material outstanding borrowings classified as other borrowed funds.

At March 31, 2025, the Company has remaining available lines of credit with the FHLB of approximately $4,958.7 million, subject to collateral availability. The available line of credit and outstanding borrowings with the FHLB are collateralized by certain loans and securities with an advance equivalent collateral value of $5,922.6 million.

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

As of March 31, 2025	Average Rate		Outstanding Balance
Fixed rate borrowings with tenors of up to twelve-months	4.47	%	$	710.0
Fixed rate borrowings with tenors over twelve-months	4.72		250.0
			$	960.0
As of December 31, 2024	Average Rate		Outstanding Balance
Fixed rate borrowings with tenors of up to twelve-months	4.78	%	$	1,317.5
Fixed rate borrowings with tenors over twelve-months	4.72		250.0
			$	1,567.5