Borrowing Arrangements (Tables)

6 Months Ended

Jun. 30, 2024

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


	June 30, 2024			December 31, 2023
Other borrowings:
Balance at end of period	$	201,418		$	509,820
Average amount outstanding during the period (1)	230,320			436,676
Maximum amount outstanding during the period (2)	597,765			1,030,421
Weighted average interest rate during the period (3)	5.8		%	4.9		%
Interest rate at end of period (4)	5.0		%	5.0		%

FHLB borrowings:
Balance at end of period	$	562,282		$	212,648
Average amount outstanding during the period (1)	606,942			276,584
Maximum amount outstanding during the period (2)	712,344			533,242
Weighted average interest rate during the period (3)	4.1		%	2.5		%
Interest rate at end of period (5)	4.1		%	1.2		%

(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 June 30, 2024 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	$	198,718	$	2,700	$	—	$	—	$	—	$	—	$	201,418
FHLB borrowings	560,756		679		396		416		35		—		562,282
Total obligations	$	759,474	$	3,379	$	396	$	416	$	35	$	—	$	763,700