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v3.24.3

BORROWED FUNDS (Tables) | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Borrowed Funds | Borrowed funds at September 30, 2024 and December 31, 2023 are summarized as follows:
|  | September 30, 2024 |  | December 31, 2023
|  |  |  | Weighted |  |  |  | Weighted
|  |  |  | Average |  |  |  | Average
(Dollars in thousands) |  | Principal |  | Rate |  | Principal |  | Rate
Short-term debt: |  |  |  |  |  |  |  |
Advances from the FHLB |  | $ | 353,500 |  |  | 5.73 | % |  | $ | 260,000 |  |  | 5.54 | %
Total short-term borrowings: |  | 353,500 |  |  | 5.73 |  |  | 260,000 |  |  | 5.54 |
Long-term debt: |  |  |  |  |  |  |  |
Advances from the FHLB and other borrowings |  | 232,042 |  |  | 4.09 |  |  | 125,223 |  |  | 4.80 |
Subordinated borrowings |  | 98,482 |  |  | 5.50 |  |  | 98,335 |  |  | 5.50 |
Junior subordinated borrowing - Trust I |  | 15,464 |  |  | 7.21 |  |  | 15,464 |  |  | 7.49 |
Junior subordinated borrowing - Trust II |  | 7,603 |  |  | 6.91 |  |  | 7,564 |  |  | 7.35 |
Total long-term borrowings: |  | 353,591 |  |  | 4.68 |  |  | 246,586 |  |  | 5.33 |
Total |  | $ | 707,091 |  |  | 5.20 | % |  | $ | 506,586 |  |  | 5.44 | %
Schedule of Maturities of FHLBB Advances | A summary of maturities of FHLB advances as of September 30, 2024 is as follows:
|  | September 30, 2024 |  |
|  |  |  | Weighted Average |  |  |  |
(In thousands, except rates) |  | Principal |  | Rate |  |  |  |
Fixed rate advances maturing: |  |  |  |  |  |  |  |
2024 |  | $ | 270,000 |  |  | 5.44 | % |  |  |  |
2025 |  | 258,500 |  |  | 5.08 |  |  |  |  |
2026 |  | 25,493 |  |  | 3.75 |  |  |  |  |
2027 |  | 25,150 |  |  | 3.65 |  |  |  |  |
2028 and beyond |  | 6,399 |  |  | 0.71 |  |  |  |  |
Total FHLB advances |  | $ | 585,542 |  |  | 5.08 | % |  |  |  |

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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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