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Borrowed Funds (Tables) | 6 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Borrowed Funds | Borrowed funds as of June 30, 2025 and December 31, 2024 are summarized as follows (in thousands):
| June 30, 2025 |  | December 31, 2024
Securities sold under repurchase agreements | $ | 98,519 |  |  | 113,224 |
FHLBNY line of credit | 378,000 |  |  | 385,000 |
FHLBNY advances | 1,895,295 |  |  | 1,518,497 |
Purchase accounting adjustment on borrowed funds | 2,846 |  |  | 3,714 |
Total borrowed funds | $ | 2,374,660 |  |  | 2,020,435 |
Maturities of FHLBNY Advances, FRBNY BTFP Borrowings and Lines of Credit | Scheduled maturities of FHLBNY advances and lines of credit, including purchase accounting adjustments resulting from the Lakeland merger as of June 30, 2025 are as follows (in thousands):
| 2025
Due in one year or less | $ | 1,136,350 |
Due after one year through two years | 386,945 |
Due after two years through three years | 450,000 |
Due after three years through four years | 200,000 |
Due after four years through five years | 100,000 |
Thereafter | — |
Purchase accounting adjustment on borrowed funds | 2,846 |
Total FHLBNY advances and overnight borrowings | $ | 2,276,141 |
Maturities of Sold Under Repurchase Agreements | Scheduled maturities of securities sold under repurchase agreements as of June 30, 2025 are as follows (in thousands):
| 2025
Due in one year or less | $ | 98,519 |
Thereafter | — |
Total securities sold under repurchase agreements | $ | 98,519 |
Debt Disclosure by Year | The following tables set forth certain information as to borrowed funds for the periods ended June 30, 2025 and December 31, 2024 (in thousands):
| Maximum balance |  | Average balance |  | Weighted average interest rate
June 30, 2025 |  |  |  |  |
Securities sold under repurchase agreements | $ | 117,946 |  |  | 111,631 |  |  | 2.16 | %
FHLBNY overnight borrowings | 704,000 |  |  | 355,525 |  |  | 4.54 |
FHLBNY advances | 2,368,897 |  |  | 1,735,392 |  |  | 3.94 |
December 31, 2024 |  |  |  |  |
Securities sold under repurchase agreements | $ | 117,323 |  |  | 102,043 |  |  | 2.03 | %
FHLBNY overnight borrowings | 567,000 |  |  | 115,902 |  |  | 5.45 |
FHLBNY advances | 1,518,497 |  |  | 1,290,836 |  |  | 3.41 |
FRBNY BTFP Borrowing | 550,000 |  |  | 472,077 |  |  | 4.78 |

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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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- Definition Tabular disclosure of advance from Federal Home Loan Bank (FHLBank). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(13)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 470 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478878/942-470-45-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 + Details
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