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Securities Sold Under Agreements to Repurchase (Tables) | 12 Months Ended
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Dec. 31, 2023
Securities Sold under Agreements to Repurchase [Abstract] |
Details of Securities Sold Under Agreements to Repurchase | Details of the Company’s securities sold under agreements to repurchase as of December 31, 2023, and December 31, 2022 were as follows:
|  | December 31, 2023 |  | December 31, 2022
(dollars in thousands) |  | Amounts Outstanding |  |  | Weighted-Average Interest Rate |  |  | Weighted-Avg Maturity (in years) |  | Amounts Outstanding |  |  | Weighted-Average Interest Rate |  | Weighted-Avg Maturity (in years)
Securities Sold Under Agreements to Repurchase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Private Institutions |  | $ | 150,000 |  |  |  | 3.80 |  | % | 5.2 |  | $ | 725,000 |  |  | 2.97 | % | 3.7
Government Entities |  |  | 490 |  |  | 1.55 |  |  | 0.9 |  |  | 490 |  |  | 1.55 |  | 1.9
Total |  | $ | 150,490 |  |  | 3.79 |  | % | 5.2 |  | $ | 725,490 |  |  | 2.96 | % | 3.7
Remaining Contractual Maturities of Repurchase Agreements by Class of Collateral Pledged | The following table presents the remaining contractual maturities of the Company’s repurchase agreements as of December 31, 2023, and December 31, 2022, disaggregated by the class of collateral pledged.
|  | Remaining Contractual Maturity of Repurchase Agreements |
(dollars in thousands) |  | Up to 90 days |  |  | 91-365 days |  |  | 1-3 Years |  |  | After 3 Years |  |  | Total |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class of Collateral Pledged: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Securities Issued by States and Political Subdivisions |  | $ | — |  |  | $ | 490 |  |  | $ | — |  |  | $ | — |  |  | $ | 490 |
Mortgage-Backed Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential - U.S. Government-Sponsored Enterprises |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 150,000 |  |  |  | 150,000 |
Total |  | $ | — |  |  | $ | 490 |  |  | $ | — |  |  | $ | 150,000 |  |  | $ | 150,490 |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class of Collateral Pledged: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Securities Issued by States and Political Subdivisions |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 490 |  |  | $ | 490 |
Mortgage-Backed Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential - Government Agencies |  |  | — |  |  |  | — |  |  |  | 28,673 |  |  |  | — |  |  |  | 28,673 |
Residential - U.S. Government-Sponsored Enterprises |  |  | — |  |  |  | — |  |  |  | 396,327 |  |  |  | 300,000 |  |  |  | 696,327 |
Total |  | $ | — |  |  | $ | — |  |  | $ | 425,000 |  |  | $ | 300,490 |  |  | $ | 725,490 |
In September 2023, the Company terminated repurchase agreements with three private institutions, with an aggregate outstanding balance of $425.0 million. The termination of these repurchase agreements resulted in a $14.7 million gain on debt extinguishment, which is reflected in other noninterest income in the consolidated statements of income. Additionally, during the three months ended September 30, 2023, a private institution exercised their call right on three repurchase agreements totaling $150.0 million and as a result the agreements were terminated.

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