XML 73 R57.htm IDEA: XBRL DOCUMENT

Borrowings (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of repurchase agreements

Repurchase agreements accounted for as secured borrowings

		March 31, 2022		December 31, 2021
			Repurchase		Repurchase
(In thousands)			liability		liability
U.S. Treasury securities
	Within 30 days	$	14,525	$	19,538
	After 30 to 90 days		14,975		30,295
	After 90 days		32,867		29,036
Total U.S. Treasury securities			62,367		78,869
Mortgage-backed securities
	Within 30 days		2,763		11,733
	After 90 days		7,395		722
Total mortgage-backed securities			10,158		12,455
Collateralized mortgage obligations
	Within 30 days		294		279
Total collateralized mortgage obligations			294		279
Total		$	72,819	$	91,603

Notes Payable

The following table presents the composition of notes payable at March 31, 2022 and December 31, 2021.

(In thousands)	March 31, 2022			December 31, 2021
Advances with the FHLB with maturities ranging from 2022 through 2029 paying interest at monthly fixed rates ranging from 0.39% to 3.18%	$	491,429		$	492,429
Unsecured senior debt securities maturing on 2023 paying interest semiannually at a fixed rate of 6.125%, net of debt issuance costs of $1,841		298,159			297,842
Junior subordinated deferrable interest debentures (related to trust preferred securities) maturing on 2034 with fixed interest rates ranging from 6.125% to 6.564%, net of debt issuance costs of $335		198,299			198,292
Total notes payable	$	987,887		$	988,563
Note: Refer to the Corporation's 2021 Form 10-K for rates information at December 31, 2021.

Borrowings by contractual maturities

A breakdown of borrowings by contractual maturities at March 31, 2022 is included in the table below.

		Assets sold under
(In thousands)		agreements to repurchase		Notes payable	Total
2022	$	72,819	$	102,148	$	174,967
2023		-		341,420		341,420
2024		-		91,943		91,943
2025		-		139,920		139,920
2026		-		74,500		74,500
Later years		-		237,956		237,956
Total borrowings	$	72,819	$	987,887	$	1,060,706