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Borrowings (Tables) | 6 Months Ended
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Jun. 30, 2021
Debt Disclosure [Abstract] |
Schedule of Repurchase Agreements |
|  | June 30, 2021 | December 31, 2020
|  |  | Repurchase |  | Repurchase |
(In thousands) |  | liability |  | liability |
U.S. Treasury securities |  |  |  |  |
| Within 30 days | $ | 29,398 | $ | 67,157 |
| After 30 to 90 days |  | 24,423 |  | 39,318 |
| After 90 days |  | 25,302 |  | 9,979 |
Total U.S. Treasury securities |  | 79,123 |  | 116,454 |
Mortgage-backed securities |  |  |  |  |
| Within 30 days |  | 1,349 |  | 3,778 |
| After 30 to 90 days |  | 387 |  | 268 |
| After 90 days |  | 9,345 |  | - |
Total mortgage-backed securities |  | 11,081 |  | 4,046 |
Collateralized mortgage obligations |  |  |  |  |
| Within 30 days |  | 721 |  | 803 |
Total collateralized mortgage obligations |  | 721 |  | 803 |
Total | $ | 90,925 | $ | 121,303 |
Notes Payable | The following table presents the composition of notes payable at June 30, 2021 and December 31, 2020.
(In thousands) | June 30, 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 3.18% | $ | 494,469 |  | $ | 542,469
Advances with the FRB maturing on 2022 paying interest annually at a fixed rate of 0.35%[1] |  | - |  |  | 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 $ 2,792 |  | 297,208 |  |  | 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 $355 |  | 384,943 |  |  | 384,929
Total notes payable | $ | 1,176,620 |  | $ | 1,224,981
[1] During the second quarter of 2021, the Paycheck Protection Program Liquidity Facility advance was prepaid.
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 June 30, 2021 is included in the table below.
|  | Assets sold under |  |  |
(In thousands) |  | agreements to repurchase |  | Notes payable | Total
2021 | $ | 66,190 | $ | 2,040 | $ | 68,230
2022 |  | 24,735 |  | 103,148 |  | 127,883
2023 |  | - |  | 340,469 |  | 340,469
2024 |  | - |  | 91,943 |  | 91,943
2025 |  | - |  | 139,920 |  | 139,920
Later years |  | - |  | 499,100 |  | 499,100
Total borrowings | $ | 90,925 | $ | 1,176,620 | $ | 1,267,545

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