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Short-Term Borrowings | 6 Months Ended
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Jun. 30, 2023
Short-Term Borrowings |
Short-Term Borrowings | 8. Short-Term Borrowings ​ At June 30, 2023 and December 31, 2022, short-term borrowings were comprised of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(dollars in thousands) |  | June 30, 2023 |  | December 31, 2022
Federal funds purchased | ​ | $ | — | ​ | $ | 75,000
Total short-term borrowings | ​ | $ | — | ​ | $ | 75,000
​ As of December 31, 2022, the Company’s short-term borrowings consisted of $75.0 million in federal funds purchased with a 4.35% annual interest rate that matured in January 2023. As of June 30, 2023, the Company had no short-term borrowings as the remaining short-term FHLB repo advance (as of March 31, 2023) matured in April 2023. As of June 30, 2023 and December 31, 2022, the Company had a remaining line of credit of $2.9 billion and $2.5 billion available from the FHLB, respectively. The FHLB borrowing capacity was secured by commercial real estate and residential real estate loan collateral as of June 30, 2023 and residential real estate loan collateral as of December 31, 2022. As of June 30, 2023 and December 31, 2022, respectively, the Company had an undrawn line of credit of $3.8 billion and $1.2 billion available from the FRB. The borrowing capacity with the FRB was secured by consumer, commercial and industrial, commercial real estate, residential real estate loans and pledged securities as of June 30, 2023 and consumer, commercial and industrial, commercial real estate and residential real estate loans as of December 31, 2022. See “Note 6. Transfers of Financial Assets” for more information. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30,
(dollars in thousands) |  | 2023 | ​ | 2022 | ​
Federal funds purchased: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average interest rate at June 30, | ​ | ​ | — | % | ​ | — | %
Highest month-end balance | ​ | $ | 150,000 | ​ | $ | — | ​
Average outstanding balance | ​ | $ | 34,779 | ​ | $ | — | ​
Weighted-average interest rate paid | ​ | ​ | 4.45 | % | ​ | — | %
Short-term FHLB repo advance: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average interest rate at June 30, | ​ | ​ | — | % | ​ | — | %
Highest month-end balance | ​ | $ | 400,000 | ​ | $ | — | ​
Average outstanding balance | ​ | $ | 208,702 | ​ | $ | — | ​
Weighted-average interest rate paid | ​ | ​ | 5.14 | % | ​ | — | %
​

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
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