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BORROWINGS | 9 Months Ended
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Sep. 30, 2021
Debt Disclosure [Abstract] |
BORROWINGS | BORROWINGS The following summarizes the Company's short-term and long-term borrowed funds as presented on the consolidated statements of condition as of the dates indicated:
(In thousands) |  | September 30, 2021 |  | December 31, 2020
Short-Term Borrowings: |  |  |  |
Customer repurchase agreements |  | $ | 211,552 |  |  | $ | 162,439 |
Total short-term borrowings |  | $ | 211,552 |  |  | $ | 162,439 |
Long-Term Borrowings: |  |  |  |
FHLBB borrowings |  | $ | — |  |  | $ | 25,000 |
Total long-term borrowings |  | $ | — |  |  | $ | 25,000 |
As of September 30, 2021 and December 31, 2020, the Company's subordinated debentures were $44.3 million and $59.3 million, respectively. On April 16, 2021, the Company exercised its call option on its $15.0 million of subordinated debentures, at par plus accrued interest. As of September 30, 2021, the Company's remaining subordinated debentures were comprised of two tranches of junior subordinated debentures. Refer to Note 10 of the consolidated financial statements for further details.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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