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Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Borrowed Funds | Borrowed funds are summarized as follows:
| December 31,
(Dollars in thousands) | 2023 |  | 2022
Short-term FHLB advances | $ | 70,000 |  |  | $ | 550,000 |
Long-term FHLB advances | 6,474 |  |  | 6,740 |
GNMA repurchase liability | — |  |  | 24,569 |
Overnight repurchase agreements with depositors | 7,124 |  |  | 27,921 |
Correspondent short-term borrowings | — |  |  | 30,000 |
Total FHLB advances and other borrowings | $ | 83,598 |  |  | $ | 639,230 |
Subordinated indebtedness, net | $ | 194,279 |  |  | $ | 201,765 |
Additional details of certain FHLB advances are as follows:
(Dollars in thousands) | Amount |  | Interest Rate |  | Maturity Date
At December 31, 2023: |  |  |  |  |
Short-term FHLB advance, fixed rate | $ | 70,000 |  |  | 5.68 | % |  | 1/5/2024
At December 31, 2022: |  |  |  |  |
Short-term FHLB advance, fixed rate | $ | 450,000 |  |  | 4.55 | % |  | 1/3/2023
Short-term FHLB advance, fixed rate | 100,000 |  |  | 4.62 |  |  | 1/13/2023
Schedule of Maturities of Long-term Advances | Scheduled maturities of long-term advances from the FHLB at December 31, 2023, are as follows:
(Dollars in thousands) |  |
Years Ended December 31, |  |
2026 | $ | 465 |  |
2027 | 1,302 |  |
2028 | — |  |
Thereafter | 4,707 |  |
Total | $ | 6,474 |  |
Schedule of Subordinated Indebtedness and Terms of Current Debentures | The following table is a summary of the terms of the junior subordinated debentures at December 31, 2023:
(Dollars in thousands) Issuance Trust |  | Issuance Date |  | Maturity Date |  | Amount Outstanding |  | Rate Type |  | Current Rate |  | Maximum Rate
CTB Statutory Trust I |  | 07/2001 |  | 07/2031 |  | $ | 6,702 |  |  | Variable (1) |  | 8.94 | % |  | 12.50 | %
First Louisiana Statutory Trust I |  | 09/2006 |  | 12/2036 |  | 4,124 |  |  | Variable (2) |  | 7.45 |  |  | 16.00 |
BT Holdings Trust I |  | 05/2007 |  | 09/2037 |  | 7,217 |  |  | Variable (3) |  | 7.26 |  |  | N/A
Par amount |  |  |  |  |  | $ | 18,043 |  |  |  |  |  |  |
Unamortized original issue discount |  |  | (1,016) |  |  |  |  |  |  |
Unamortized purchase accounting discount |  |  | (671) |  |  |  |  |  |  |
Total junior subordinated debt at December 31, 2023 | $ | 16,356 |  |  |  |  |  |  |
____________________________ (1)The trust preferred securities reprice quarterly based on the three-month average SOFR plus 3.30%, with the last reprice date on October 27, 2023. (2)The trust preferred securities reprice quarterly based on the three-month CME Term SOFR plus 1.80%, plus 0.26161% SOFR spread adjustment, with the last reprice date on December 13, 2023. (3)The trust preferred securities reprice quarterly based on the three-month CME Term SOFR plus 1.64%, plus 0.26161% SOFR spread adjustment, with the last reprice date on December 4, 2023.

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