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Borrowed Funds
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Borrowed Funds Borrowed Funds
Borrowed funds at September 30, 2024 and December 31, 2023 were as follows (in thousands):
September 30,December 31,
20242023
FHLB advances$891,860 $848,636 
Securities sold under agreements to repurchase with customers81,163 73,148 
Other borrowings419,927 196,456 
Total borrowed funds$1,392,950 $1,118,240 
At September 30, 2024, there were $831.9 million of FHLB term advances and $60.0 million outstanding in overnight borrowings from the FHLB, as compared to $848.6 million and $0 at December 31, 2023, respectively.
At September 30, 2024, there were $419.9 million of other borrowings as compared to $196.5 million at December 31, 2023 as a result of lower-cost funding availability.
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, 2024
FHLB and FRB$7,399,276 $1,131,698 $8,530,974 
Repurchase agreements— 86,440 86,440 
Total pledged assets$7,399,276 $1,218,138 $8,617,414 
December 31, 2023
FHLB and FRB$7,255,671 $1,051,558 $8,307,229 
Repurchase agreements— 103,416 103,416 
Total pledged assets$7,255,671 $1,154,974 $8,410,645 

The securities that collateralize the repurchase agreements are delivered to the lender, with whom each transaction is executed, to a third-party custodian, or held at the Company. The lender agrees to resell to the Company substantially the same securities at the maturity of the repurchase agreements.