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Other Debt

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Other Debt

Note 10. Other Debt

The Company’s other debt as of December 31, 2024 and 2023 were as follows:

		December 31,
(dollars in thousands)		2024				2023
Federal Home Loan Bank of Des Moines Advances		$	550,000			$	550,000
Finance Lease Obligations			8,274				10,190
Total		$	558,274			$	560,190

As of December 31, 2024, FHLB advances totaled $550.0 million with a weighted-average interest rate of 4.13% and maturity dates ranging from 2026 to 2028. As of December 31, 2024, the Company had an undrawn line of credit with the FHLB of $1.7 billion.

As of December 31, 2024, the Company had an undrawn line of credit with the FRB of $7.4 billion.

Finance lease obligations relate to office space at the Company’s headquarters. The lease began in 1993 and has a 60 year term.

As of December 31, 2024, the annual maturities of the Company's other debt, exclusive of finance lease obligations, were expected to be as follows:

(dollars in thousands)		Amount
2025		$	—
2026			50,000
2027			400,000
2028			100,000
2029			—
Total		$	550,000

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- Definition

The entire disclosure for long-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

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