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Borrowing Arrangements (Tables) | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | Information related to borrowings is provided in the table below (dollars in thousands):
|  | September 30, 2024 |  | December 31, 2023
Other borrowings: |  |  |  |
Balance at end of period |  | $ | 105,810 |  |  | $ | 509,820 |
Average amount outstanding during the period (1) |  | 227,117 |  |  | 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) |  | 4.2 | % |  | 5.0 | %
FHLB borrowings: |  |  |  |
Balance at end of period |  | $ | 760,046 |  |  | $ | 212,648 |
Average amount outstanding during the period (1) |  | 610,893 |  |  | 276,584 |
Maximum amount outstanding during the period (2) |  | 760,046 |  |  | 533,242 |
Weighted average interest rate during the period (3) |  | 4.1 | % |  | 2.5 | %
Interest rate at end of period (5) |  | 4.2 | % |  | 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 September 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 |  | $ | 105,810 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 105,810 |
FHLB borrowings |  | 758,714 |  |  | 582 |  |  | 401 |  |  | 349 |  |  | — |  |  | — |  |  | 760,046 |
Total obligations |  | $ | 864,524 |  |  | $ | 582 |  |  | $ | 401 |  |  | $ | 349 |  |  | $ | — |  |  | $ | — |  |  | $ | 865,856 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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