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v3.23.2

BORROWINGS (Tables) | 6 Months Ended
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Jun. 30, 2023
Borrowings [Abstract] |
Short-Term Borrowings | Total short-term borrowings consist of the following as of June 30, 2023 and December 31, 2022 (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, | ​ | December 31, |
​ | ​ | 2023 | ​ | 2022 |
Securities sold under agreements to repurchase | ​ | $ | 130,461 | ​ | $ | 142,837 | ​
Federal Funds Purchased | ​ | ​ | — | ​ | ​ | 160,000 | ​
FHLB Advances | ​ |  | 799,400 | ​ |  | 1,016,000 | ​
Total short-term borrowings | ​ | $ | 929,861 | ​ | $ | 1,318,837 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Average outstanding balance during the period | ​ | $ | 698,391 | ​ | $ | 302,060 | ​
Average interest rate during the period | ​ |  | 4.51 | % |  | 1.79 | %
Average interest rate at end of period | ​ |  | 4.96 | % |  | 3.89 | %
Contractual Maturities of Long-Term Debt | As of June 30, 2023, the contractual maturities of long-term debt are as follows for the years ending (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Trust |  | ​ |  | ​ |  | ​
​ |  | Preferred |  | ​ |  | ​ |  | Total
​ |  | Capital |  | Subordinated |  | Fair Value |  | Long-term
​ |  | Notes |  | Debt |  | Discount (1) |  | Borrowings
For the remaining six months of 2023 | ​ | $ | — | ​ | $ | — | ​ | $ | (585) | ​ | $ | (585)
2024 | ​ |  | — | ​ |  | — | ​ |  | (1,187) | ​ |  | (1,187)
2025 | ​ |  | — | ​ |  | — | ​ |  | (1,211) | ​ |  | (1,211)
2026 | ​ |  | — | ​ |  | — | ​ |  | (1,236) | ​ |  | (1,236)
2027 | ​ |  | — | ​ |  | — | ​ |  | (1,263) | ​ |  | (1,263)
Thereafter | ​ |  | 155,159 | ​ |  | 250,000 | ​ |  | (9,237) | ​ |  | 395,922
Total long-term borrowings | ​ | $ | 155,159 | ​ | $ | 250,000 | ​ | $ | (14,719) | ​ | $ | 390,440
​ (1) Includes discount on Trust Preferred Capital Securities and Subordinated Debt.

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- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481544/470-10-50-1 + Details
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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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