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Borrowings (Tables)
 9 Months Ended
Sep. 30, 2024
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 and borrowings, at September 30, 2024 and December 31, 2023:
(dollars in thousands)Borrowings - PrincipalUnamortized Deferred Issuance CostsNet Borrowings Outstanding
Available Capacity (1)
Maturity Dates
Interest Rates (2)
September 30, 2024:
Customer repurchase agreements$32,040 $— $32,040 $— N/A3.31%
Short-term borrowings:
Secured borrowings:
FHLB240,000 — 240,000 1,203,126 April 1, 20255.20%
FRB:
BTFP1,000,000 — 1,000,000 — January 15, 20254.76%
Discount window— — — 1,839,552 N/AN/A
Raymond James repurchase agreement— — — 18,604 N/AN/A
Subordinated notes— — — — N/AN/A
Total1,240,000 — 1,240,000 3,061,282 
Long-term borrowings:
Senior notes
77,665 (1,853)75,812 — September 30, 202910.00 %
Total borrowings$1,349,705 $(1,853)$1,347,852 $3,061,282 
December 31, 2023:
Customer repurchase agreements$30,587 $— $30,587 $— N/A3.42%
Short-term borrowings:
Secured borrowings:
FHLB— — — 1,271,846 N/AN/A
FRB:
BTFP1,300,000 — 1,300,000 598,870 March 22, 20244.53%
Discount window— — — 601,504 N/AN/A
Raymond James repurchase agreement— — — 17,993 N/AN/A
Subordinated notes70,000 (82)69,918 — September 1, 20245.75%
Long-term borrowings:
Senior notes
— — — — 
N/A
N/A
Total borrowings$1,400,587 $(82)$1,400,505 $2,490,213 
(1)Available capacity on the Company's borrowing arrangements with the FHLB, the FRB and the Raymond James repurchase line comprise pledged collateral that has not been borrowed against. At September 30, 2024, the Company had total additional undrawn borrowing capacity of approximately $4.0 billion, comprising unencumbered securities available to be pledged of approximately $892.9 million and undrawn financing on pledged assets of $3.1 billion.
(2)Represent the weighted average interest rate on customer repurchase agreements and the borrowings outstanding and the coupon interest rate on the subordinated notes, which approximates the effective interest rate.