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Other Borrowings and Subordinated Notes and Debentures (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Debt | Debt at December 31, 2023 and 2022 consisted of the following components:
(In thousands) | 2023 |  | 2022
Other Borrowings |  |  |
FHLB advances, net of discount, due 2024 to 2033, 4.56% to 5.68%, secured by real estate loans | $ | 953,222 |  |  | $ | 838,487 |
Other long-term debt | 19,144 |  |  | 20,809 |
Total other borrowings | 972,366 |  |  | 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) | 37,171 |  |  | 37,285 |
Unamortized debt issuance costs | (1,030) |  |  | (1,296) |
Total subordinated notes and debentures | 366,141 |  |  | 365,989 |
Total other borrowings and subordinated debt | $ | 1,338,507 |  |  | $ | 1,225,285 |
_________________________ (1) The Company transitioned from the three month London Interbank Offered Rate (“LIBOR”) to the three month Secured Overnight Financing Rate (“SOFR”), plus a comparable spread adjustment of 26.16 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 December 31, 2023, are as follows:
Year | (In thousands)
2024 | $ | 1,822 |
2025 | 1,822 |
2026 | 1,824 |
2027 | 1,920 |
2028 | 332,210 |
Thereafter | 48,909 |
Total | $ | 388,507 |

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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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