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v3.23.2

BORROWED FUNDS (Tables) | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Borrowed Funds | Borrowed funds at June 30, 2023 and December 31, 2022 are summarized as follows:
|  | June 30, 2023 |  | December 31, 2022
|  |  |  | Weighted |  |  |  | Weighted
|  |  |  | Average |  |  |  | Average
(Dollars in thousands) |  | Principal |  | Rate |  | Principal |  | Rate
Short-term borrowings: |  |  |  |  |  |  |  |
Advances from the FHLB |  | $ | 470,000 |  |  | 5.45 | % |  | $ | — |  |  | — | %
Total short-term borrowings: |  | 470,000 |  |  | 5.45 |  |  | — |  |  | — |
Long-term borrowings: |  |  |  |  |  |  |  |
Advances from the FHLB and other borrowings |  | 204,345 |  |  | 3.83 |  |  | 4,445 |  |  | 0.71 |
Subordinated borrowings |  | 98,237 |  |  | 5.50 |  |  | 98,089 |  |  | 5.50 |
Junior subordinated borrowing - Trust I |  | 15,464 |  |  | 7.24 |  |  | 15,464 |  |  | 6.54 |
Junior subordinated borrowing - Trust II |  | 7,537 |  |  | 7.25 |  |  | 7,511 |  |  | 6.47 |
Total long-term borrowings: |  | 325,583 |  |  | 4.58 |  |  | 125,509 |  |  | 5.52 |
Total |  | $ | 795,583 |  |  | 5.09 | % |  | $ | 125,509 |  |  | 5.52 | %
Schedule of Maturities of FHLBB Advances | A summary of maturities of FHLB advances as of June 30, 2023 is as follows:
|  | June 30, 2023 |  |
|  |  |  | Weighted Average |  |  |  |
(In thousands, except rates) |  | Principal |  | Rate |  |  |  |
Fixed rate advances maturing: |  |  |  |  |  |  |  |
2023 |  | $ | 460,000 |  |  | 5.45 | % |  |  |  |
2024 |  | 40,017 |  |  | 5.05 |  |  |  |  |
2025 |  | 40,000 |  |  | 4.55 |  |  |  |  |
2026 |  | 65,539 |  |  | 3.61 |  |  |  |  |
2027 and beyond |  | 68,789 |  |  | 3.16 |  |  |  |  |
Total FHLB advances |  | $ | 674,345 |  |  | 4.96 | % |  |  |  |

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- Definition Tabular disclosure of the contractual maturities and weighted average interest rates on borrowings or advances from Federal Home Loan Bank. + References No definition available. + Details
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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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