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Borrowed Funds
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Borrowed Funds Borrowed Funds
Borrowed funds at September 30, 2023 and December 31, 2022 were as follows (in thousands):
September 30,December 31,
20232022
FHLB advances$606,056 $1,211,166 
Securities sold under agreements to repurchase with customers82,981 69,097 
Other borrowings196,183 195,403 
Total borrowed funds$885,220 $1,475,666 
The Company had no FHLB overnight advances and no borrowings from the Federal Reserve Bank (“FRB”) Discount Window or Bank Term Funding Program at September 30, 2023 and December 31, 2022.
Pledged assets
The following table presents the assets pledged to secure borrowings, borrowing capacity, repurchase agreements, letters of credit, and for other purposes required by law at carrying value (in thousands):
LoansDebt securitiesTotal
September 30, 2023
FHLB and FRB$7,253,277 $997,973 $8,251,250 
Repurchase agreements— 93,145 93,145 
Total pledged assets$7,253,277 $1,091,118 $8,344,395 
December 31, 2022
FHLB and FRB$6,487,980 $830,057 $7,318,037 
Repurchase agreements— 105,294 105,294 
Total pledged assets$6,487,980 $935,351 $7,423,331 

The securities pledged, which collateralize the repurchase agreements are delivered to the lender, with whom each transaction is executed, or to a third-party custodian. The lender, who may sell, loan or otherwise dispose of such securities to other parties in the normal course of their operations, agrees to resell to the Company substantially the same securities at the maturity of the repurchase agreements.