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Borrowings
 3 Months Ended
Mar. 31, 2024
Borrowings  
Borrowings

Note 11: Borrowings

Borrowings were comprised of the following at March 31, 2024 and December 31, 2023:

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March 31, 

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December 31, 

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2024

    

2023

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​

(In thousands)

Federal Reserve discount window borrowings

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$

50,000

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$

—

Short-term subordinated debt

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64,922

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64,922

FHLB advances

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​

1,426,299

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​

771,392

American Financial Exchange borrowing

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​

175,000

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​

—

Credit linked notes, net of debt discount

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​

111,830

​

​

119,879

Other borrowings

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7,934

​

 

7,934

Total borrowings

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$

1,835,985

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$

964,127

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On March 22, 2024, the Company entered into a new variable rate debt agreement with the FHLB for an advance that has put and call options attached to it. The balance of the advance was $500.0 million as of March 31, 2024, and matures on June 20, 2024. The variable interest rate is based on the Federal Funds effective rate, plus 10 basis points, which was 5.43% as of March 31, 2024. The FHLB has an option to cancel the agreement 60 days after the initial execution date and the Company has an option to cancel the agreement at any time, with one day’s notice.