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Commitments and Contingencies | 12 Months Ended
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Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Commitments The following table sets forth our commitments and letters of credit as of the dates presented:
| December 31,
(dollars in thousands) | 2022 |  | 2021
Commitments to extend credit | $ | 2,713,586 |  |  | $ | 2,583,957 |
Standby letters of credit | 64,356 |  |  | 87,335 |
Total | $ | 2,777,942 |  |  | $ | 2,671,292 |
Allowance for Credit Losses on Unfunded Loan Commitments We maintain an allowance for credit losses on unfunded commercial and consumer lending commitments and letters of credit to provide for the risk of loss in these arrangements. The activity in the unfunded loan commitments reserve is summarized as of the dates presented:
| December 31,
(dollars in thousands) | 2022 |  |  | 2021
Balance at beginning of period | $ | 5,189 |  |  |  | $ | 4,467 |
Provision for credit losses | 3,007 |  |  |  | 722 |
Total | $ | 8,196 |  |  |  | $ | 5,189 |
Contractual Obligations Contractual obligations represent future cash commitments and liabilities under agreements with third parties and exclude contingent contractual liabilities for which we cannot reasonably predict future payments. We have various financial obligations, including contractual obligations and commitments that may require future cash payments. The following table presents as of December 31, 2022 significant fixed and determinable contractual obligations to third parties by payment date:
| Payments Due In
(dollars in thousands) | 2023 |  | 2024-2025 |  | 2026-2027 |  | Later Years |  | Total
Deposits without a stated maturity(1) | $ | 6,285,377 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6,285,377 |
Certificates of deposit(1) | 733,285 |  |  | 161,343 |  |  | 38,711 |  |  | 1,254 |  |  | 934,593 |
Short-term borrowings(1) | 370,000 |  |  | — |  |  | — |  |  | — |  |  | 370,000 |
Long-term borrowings(1) | 464 |  |  | 13,461 |  |  | 180 |  |  | 636 |  |  | 14,741 |
Junior subordinated debt securities(1) | — |  |  | — |  |  | — |  |  | 54,453 |  |  | 54,453 |
Operating and finance leases | 5,053 |  |  | 9,984 |  |  | 9,587 |  |  | 60,837 |  |  | 85,461 |
Purchase obligations | 32,555 |  |  | 62,656 |  |  | 53,190 |  |  | — |  |  | 148,401 |
Total | $ | 7,426,734 |  |  | $ | 247,444 |  |  | $ | 101,668 |  |  | $ | 117,180 |  |  | $ | 7,893,026 |
(1)Excludes interest Operating lease obligations represent lease arrangements as described in Note 10 Premises and Equipment, to the consolidated financial statements. Purchase obligations primarily represent obligations under agreement with our third-party data processing servicer, low income housing obligations and communications charges. Litigation In the normal course of business, we are subject to various legal and administrative proceedings and claims. While any type of litigation contains a level of uncertainty, we believe that the outcome of such proceedings or claims pending will not have a material adverse effect on our consolidated financial position or results of operations.

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