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Borrowings (Tables) | 6 Months Ended
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Jun. 30, 2023
Long-Term Debt, Unclassified [Abstract] |
Schedules of Short-term Borrowings and Long-term Borrowings | The following table summarizes the Company’s borrowings, which include repurchase agreements with the Company’s customers, short-term borrowings and long-term borrowings, at June 30, 2023 and December 31, 2022:
(dollars in thousands) |  | Borrowings - Principal |  | Unamortized Deferred Issuance Costs |  | Net Borrowings Outstanding |  | Available Capacity (1)(2) |  | Maturity Dates |  | Interest Rates (3)
June 30, 2023: |  |  |  |  |  |  |  |  |  |  |  |
Customer repurchase agreements |  | $ | 37,017 |  |  | $ | — |  |  | $ | 37,017 |  |  | $ | — |  |  | N/A |  | 3.27 | %
Short-term borrowings: |  |  |  |  |  |  |  |  |  |  |  |
FHLB secured borrowings |  | 536,759 |  |  | — |  |  | 536,759 |  |  | 1,287,028 |  |  | August 24, 2023 - December 1, 2023 |  | 5.34 | %
FRB: |  |  |  |  |  |  |  |  |  |  |  |
BTFP secured borrowings |  | 1,300,000 |  |  | — |  |  | 1,300,000 |  |  | 286,464 |  |  | March 26, 2024 |  | 4.53 | %
Discount window secured borrowings |  | — |  |  | — |  |  | — |  |  | 591,548 |  |  | N/A |  | N/A
Raymond James repurchase agreement |  | — |  |  | — |  |  | — |  |  | 17,591 |  |  | N/A |  | N/A
Total |  | 1,836,759 |  |  | — |  |  | 1,836,759 |  |  | 2,182,631 |  |  |  |  |
Long-term borrowings: |  |  |  |  |  |  |  |  |  |  |  |
Subordinated notes, 5.75% |  | 70,000 |  |  | (144) |  |  | 69,856 |  |  | — |  |  | September 1, 2024 |  | 5.75 | %
Total borrowings |  | $ | 1,943,776 |  |  | $ | (144) |  |  | $ | 1,943,632 |  |  | $ | 2,182,631 |  |  |  |  |
December 31, 2022: |  |  |  |  |  |  |  |  |  |  |  |
Customer repurchase agreements |  | $ | 35,100 |  |  | $ | — |  |  | $ | 35,100 |  |  | $ | — |  |  | N/A |  | 2.94 | %
Short-term borrowings: |  |  |  |  |  |  |  |  |  |  |  |
FHLB secured borrowings |  | 975,001 |  |  | — |  |  | 975,001 |  |  | 145,104 |  |  | December 1, 2023 |  | 4.57 | %
FRB discount window secured borrowings |  | — |  |  | — |  |  | — |  |  | 607,405 |  |  | N/A |  | N/A
Total |  | 975,001 |  |  | — |  |  | 975,001 |  |  | 752,509 |  |  |  |  |
Long-term borrowings: |  |  |  |  |  |  |  |  |  |  |  |
Subordinated notes, 5.75% |  | 70,000 |  |  | (206) |  |  | 69,794 |  |  | — |  |  | September 1, 2024 |  | 5.75 | %
Total borrowings |  | $ | 1,080,101 |  |  | $ | (206) |  |  | $ | 1,079,895 |  |  | $ | 752,509 |  |  |  |  |
(1)Available capacity on the Company's short-term borrowing arrangements with the FHLB, the FRB's BTFP program and the Raymond James repurchase line comprise pledged collateral that has not been borrowed against. At June 30, 2023, the Company had total additional undrawn borrowing capacity of approximately $2.0 billion, comprising unencumbered securities available to be pledged of approximately $428.2 million and undrawn financing on pledged assets of $1.6 billion, including $1.3 billion with the FHLB, $286.5 million with the BTFP and $17.6 million with Raymond James. (2)As part of the Company's agreement governing its participation in the BTFP program and the Raymond James repurchase agreement, the borrowing capacity is determined based on the principal balance of the pledged assets. (3)Represent the weighted average interest rate on customer repurchase agreements and the short-term borrowings outstanding and the coupon interest rate on the subordinated notes, which approximates the effective interest rate.

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