Borrowed Funds (Tables)

6 Months Ended

Jun. 30, 2024

Borrowed funds as of June 30, 2024 and December 31, 2023 are summarized as follows (in thousands):


	June 30, 2024		December 31, 2023
Securities sold under repurchase agreements	$	108,307	72,161
FHLBNY line of credit	282,000		148,000
FHLBNY advances (1)	1,356,931		1,299,872
FRBNY BTFP Borrowing	550,000		450,000
Total borrowed funds	$	2,297,239	1,970,033

(1) The balance at June 30, 2024 for FHLBNY advances does not include $4.8 million of purchase accounting adjustments resulting from the Lakeland acquisition.

Maturities of FHLB Advances

Scheduled maturities of FHLBNY advances and lines of credit as of June 30, 2024 are as follows (in thousands):


	2024
Due in one year or less	$	1,404,036
Due after one year through two years	152,451
Due after two years through three years	282,445
Due after three years through four years	350,000

Thereafter	—
Total FHLBNY advances and overnight borrowings	$	2,188,932

Maturities of Sold Under Repurchase Agreements

Scheduled maturities of securities sold under repurchase agreements as of June 30, 2024 are as follows (in thousands):


	2024
Due in one year or less	$	108,307




Thereafter	—
Total securities sold under repurchase agreements	$	108,307

Debt Disclosure by Year

The following tables set forth certain information as to borrowed funds for the periods ended June 30, 2024 and December 31, 2023 (in thousands):


	Maximum balance		Average balance	Weighted average interest rate
June 30, 2024
Securities sold under repurchase agreements	$	108,589	89,209	1.97	%
FHLBNY overnight borrowings	567,000		110,698	5.63
FHLBNY advances	1,469,152		1,304,015	3.28
FRBNY BTFP Borrowing	550,000		544,395	4.77
December 31, 2023
Securities sold under repurchase agreements	$	99,669	87,227	1.69	%
FHLBNY overnight borrowings	500,000		262,289	5.29
FHLBNY advances	1,592,277		1,282,124	3.14
FRBNY BTFP Borrowing	450,000		4,932	4.83