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Short-Term Borrowings (Tables) | 9 Months Ended
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Sep. 30, 2023
Short-Term Debt [Abstract] |
Summary of Information Concerning Short-term Borrowings | The following table presents information concerning short-term borrowings at September 30, 2023 and December 31, 2022.
|  | September 30, |  |  | December 31, |
($ in thousands) |  | 2023 |  |  | 2022 |
Federal funds purchased: |  |  |  |  |  |  |  |
Amount outstanding at period end |  | $ |  | 350 |  |  | $ |  | 1,850 |
Weighted-average interest at period end |  |  |  | 4.90 | % |  |  |  | 3.90 | %
Securities sold under agreements to repurchase: |  |  |  |  |  |  |  |
Amount outstanding at period end |  | $ |  | 525,578 |  |  | $ |  | 444,421 |
Weighted-average interest at period end |  |  |  | 1.46 | % |  |  |  | 0.53 | %
FHLB borrowings: |  |  |  |  |  |  |  |
Amount outstanding at period end |  | $ |  | 900,000 |  |  | $ |  | 1,425,000 |
Weighted-average interest at period end |  |  |  | 5.45 | % |  |  |  | 4.70 | %
The following table presents information concerning short-term borrowings for the three and nine months ended September 30, 2023 and 2022.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
($ in thousands) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Federal funds purchased: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Average amount outstanding during period |  | $ |  | 7,665 |  |  | $ |  | 28,861 |  |  | $ |  | 5,785 |  |  | $ |  | 11,425 |
Maximum amount at any month end during period |  | $ |  | 350 |  |  | $ |  | 1,850 |  |  | $ |  | 1,850 |  |  | $ |  | 2,350 |
Weighted-average interest rate during period |  |  |  | 6.16 | % |  |  |  | 2.59 | % |  |  |  | 5.58 | % |  |  |  | 2.29 | %
Securities sold under agreements to repurchase: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Average amount outstanding during period |  | $ |  | 538,167 |  |  | $ |  | 516,546 |  |  | $ |  | 494,298 |  |  | $ |  | 542,105 |
Maximum amount at any month end during period |  | $ |  | 525,578 |  |  | $ |  | 541,131 |  |  | $ |  | 625,773 |  |  | $ |  | 640,592 |
Weighted-average interest rate during period |  |  |  | 1.64 | % |  |  |  | 0.13 | % |  |  |  | 1.27 | % |  |  |  | 0.09 | %
FHLB borrowings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Average amount outstanding during period |  | $ |  | 765,217 |  |  | $ |  | 405,163 |  |  | $ |  | 1,429,121 |  |  | $ |  | 731,982 |
Maximum amount at any month end during period |  | $ |  | 900,000 |  |  | $ |  | 1,000,000 |  |  | $ |  | 3,100,000 |  |  | $ |  | 1,100,000 |
Weighted-average interest rate during period |  |  |  | 5.39 | % |  |  |  | 2.34 | % |  |  |  | 5.01 | % |  |  |  | 0.84 | %

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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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- References No definition available. + Details
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