XML 57 R43.htm IDEA: XBRL DOCUMENT
v3.23.3

Other Borrowings and Subordinated Notes and Debentures (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Debt | Debt at September 30, 2023 and December 31, 2022 consisted of the following components:
| September 30, |  | December 31,
(In thousands) | 2023 |  | 2022
Other Borrowings |  |  |
FHLB advances, net of discount, due 2023 to 2033, 4.56% to 5.61% secured by real estate loans | $ | 1,328,290 |  |  | $ | 838,487 |
Other long-term debt | 19,565 |  |  | 20,809 |
Total other borrowings | 1,347,855 |  |  | 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) | 37,199 |  |  | 37,285 |
Unamortized debt issuance costs | (1,096) |  |  | (1,296) |
Total subordinated notes and debentures | 366,103 |  |  | 365,989 |
Total other borrowings and subordinated debt | $ | 1,713,958 |  |  | $ | 1,225,285 |
_________________________ (1) The Company transitioned 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 September 30, 2023, are as follows:
Year |  | (In thousands)
Remainder of 2023 |  | $ | 441 |
2024 |  | 1,822 |
2025 |  | 1,822 |
2026 |  | 1,824 |
2027 |  | 1,920 |
Thereafter |  | 381,128 |
Total |  | $ | 388,957 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration