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v3.23.2

Other Borrowings and Subordinated Notes and Debentures (Tables) | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Debt | Debt at June 30, 2023 and December 31, 2022 consisted of the following components:
| June 30, |  | December 31,
(In thousands) | 2023 |  | 2022
Other Borrowings |  |  |
FHLB advances, net of discount, due 2023 to 2033, 4.56% to 5.53% secured by real estate loans | $ | 1,353,356 |  |  | $ | 838,487 |
Other long-term debt | 19,983 |  |  | 20,809 |
Total other borrowings | 1,373,339 |  |  | 859,296 |
Subordinated Notes and Debentures |  |  |
Subordinated notes payable, due 4/1/2028, fixed-to-floating rate (fixed rate of 5.00% through 3/31/2023, floating rate of 2.15% above the three month LIBOR rate, reset quarterly)(1) | 330,000 |  |  | 330,000 |
Subordinated notes payable, net of premium adjustments, due 7/31/2030, fixed-to-floating rate (fixed rate of 6.00% through 7/30/2025, floating rate of 5.92% above the three month SOFR rate, reset quarterly) | 37,227 |  |  | 37,285 |
Unamortized debt issuance costs | (1,162) |  |  | (1,296) |
Total subordinated notes and debentures | 366,065 |  |  | 365,989 |
Total other borrowings and subordinated debt | $ | 1,739,404 |  |  | $ | 1,225,285 |
_________________________ (1) The Company will transition from the three month LIBOR rate to the three month Secured Overnight Financing Rate (“SOFR”), plus a comparable spread adjustment of 26.161 basis points, beginning with interest accrued on the notes from and after October 1, 2023.
Schedule of Aggregate Annual Maturities of Long-term Debt | Aggregate annual maturities of long-term debt at June 30, 2023, are as follows:
Year |  | (In thousands)
Remainder of 2023 |  | $ | 889 |
2024 |  | 1,822 |
2025 |  | 1,822 |
2026 |  | 1,824 |
2027 |  | 1,920 |
Thereafter |  | 381,128 |
Total |  | $ | 389,405 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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