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Borrowings (Tables) | 3 Months Ended
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Mar. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Repurchase Agreements |
|  | March 31, 2021 | December 31, 2020
|  |  | Repurchase |  | Repurchase |
(In thousands) |  | liability |  | liability |
U.S. Treasury securities |  |  |  |  |
| Within 30 days | $ | 14,665 | $ | 67,157 |
| After 30 to 90 days |  | 14,732 |  | 39,318 |
| After 90 days |  | 44,796 |  | 9,979 |
Total U.S. Treasury securities |  | 74,193 |  | 116,454 |
Mortgage-backed securities |  |  |  |  |
| Within 30 days |  | 2,129 |  | 3,778 |
| After 30 to 90 days |  | - |  | 268 |
| After 90 days |  | 9,735 |  | - |
Total mortgage-backed securities |  | 11,864 |  | 4,046 |
Collateralized mortgage obligations |  |  |  |  |
| Within 30 days |  | 777 |  | 803 |
Total collateralized mortgage obligations |  | 777 |  | 803 |
Total | $ | 86,834 | $ | 121,303 |
Notes Payable | The following table presents the composition of notes payable at March 31, 2021 and December 31, 2020.
(In thousands) | March 31, 2021 |  | December 31, 2020
Advances with the FHLB with maturities ranging from 2021 through 2029 paying interest at monthly fixed rates ranging from 0.39% to 4.19% | $ | 541,469 |  | $ | 542,469
Advances with the FRB maturing on 2022 paying interest annually at a fixed rate of 0.35% |  | 934 |  |  | 1,009
Unsecured senior debt securities maturing on 2023 paying interest semiannually at a fixed rate of 6.125%, net of debt issuance costs of $ 3,109 |  | 296,891 |  |  | 296,574
Junior subordinated deferrable interest debentures (related to trust preferred securities) with maturities ranging from 2033 to 2034 with fixed interest rates ranging from 6.125% to 6.7%, net of debt issuance costs of $362 |  | 384,936 |  |  | 384,929
Total notes payable | $ | 1,224,230 |  | $ | 1,224,981
Note: Refer to the Corporation's 2020 Form 10-K for rates information at December 31, 2020.
Maturity distribution of debt securities | A breakdown of borrowings by contractual maturities at March 31, 2021 is included in the table below.
|  | Assets sold under |  |  |
(In thousands) |  | agreements to repurchase |  | Notes payable | Total
2021 | $ | 62,099 | $ | 49,040 | $ | 111,139
2022 |  | 24,735 |  | 104,081 |  | 128,816
2023 |  | - |  | 340,152 |  | 340,152
2024 |  | - |  | 91,944 |  | 91,944
2025 |  | - |  | 139,920 |  | 139,920
Later years |  | - |  | 499,093 |  | 499,093
Total borrowings | $ | 86,834 | $ | 1,224,230 | $ | 1,311,064

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