Borrowings

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Borrowings

Borrowings

The Company’s repurchase agreements totaled $945,916,000 and $1,020,794,000 at December 31, 2022 and 2021, respectively, and are secured by debt securities with carrying values of $1,378,962,000 and $1,233,885,000, respectively. Securities are pledged to customers at the time of the transaction in an amount at least equal to the outstanding balance and are held in custody accounts by third parties. The fair value of collateral is continually monitored and additional collateral is provided as deemed appropriate. The following tables summarize the carrying value of the Company’s repurchase agreements by remaining contractual maturity and category of collateral:

	December 31, 2022		December 31, 2021
	Remaining Contractual Maturity of the Agreements
(Dollars in thousands)	Overnight and Continuous
Residential mortgage-backed securities	945,916		1,020,794
Total	$	945,916	1,020,794

FHLB advances are collateralized by specifically pledged loans and debt securities, FHLB stock owned by the Company, and a blanket assignment of the unpledged qualifying loans and investments. Borrowings from FHLB were $1,800,000,000 at December 31, 2022 with scheduled maturities within one year and a weighted fixed rate of 4.54%. There were no FHLB borrowings at December 31, 2021.

The Company’s other borrowings consisted of finance lease liabilities and other debt obligations through consolidation of certain VIEs. At December 31, 2022, the Company had $705,000,000 in unsecured lines of credit which are typically renewed on an annual basis with various correspondent entities.

The Company has entered into borrowing transactions with its related parties in connection with the certain variable interest entities. The aggregate amount of borrowings with such related parties was $10,251,000 at December 31, 2022 and 2021.