Borrowing Arrangements (Tables)

9 Months Ended

Sep. 30, 2023

Information related to borrowings is provided in the table below (dollars in thousands):


	September 30, 2023			December 31, 2022
Other borrowings:
Balance at end of period	$	395,209		$	221,153
Average amount outstanding during the period (1)	451,966			77,845
Maximum amount outstanding during the period (2)	1,030,421			316,563
Weighted average interest rate during the period (3)	4.8		%	2.4		%
Interest rate at end of period (4)	4.4		%	4.1		%

FHLB borrowings:
Balance at end of period	$	212,829		$	153,358
Average amount outstanding during the period (1)	281,260			135,926
Maximum amount outstanding during the period (2)	533,242			423,645
Weighted average interest rate during the period (3)	2.5		%	2.4		%
Interest rate at end of period (5)	1.4		%	0.7		%

(1)The average amount outstanding during the period was computed by dividing the total daily outstanding principal balances by the number of days in the period.

(2)The maximum amount outstanding at any month-end during the period.

(3)The weighted average interest rate during the period was computed by dividing the actual interest expense (annualized for interim periods) by the average amount outstanding during the period. The weighted average interest rate on other borrowings and FHLB borrowings includes the effect of interest rate swaps.

(4)Stated rate.

(5)The interest rate on FHLB borrowings includes the effect of interest rate swaps.

Schedule of Maturities of Borrowings

Maturities of the obligations associated with our borrowing arrangements based on scheduled repayments at September 30, 2023 are as follows (in thousands):


	Payments Due by Period
	Less than 1 Year		1-2 Years		2-3 Years		3-4 Years		4-5 Years		Thereafter		Total
Other borrowings	$	388,888	$	6,321	$	—	$	—	$	—	$	—	$	395,209
FHLB borrowings	210,733		764		582		401		349		—		212,829
Total obligations	$	599,621	$	7,085	$	582	$	401	$	349	$	—	$	608,038