XML 83 R50.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Borrowings (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Short-Term and Long-Term Borrowings | The following table summarizes the Company’s borrowings, which include repurchase agreements with the Company’s customers and borrowings at December 31, 2024 and 2023:
(dollars in thousands) |  | Borrowings - Principal |  | Unamortized Deferred Issuance Costs |  | Net Borrowings Outstanding |  | Available Capacity (1)(2) |  | Maturity Dates |  | Interest Rates (4)
December 31, 2024: |  |  |  |  |  |  |  |  |  |  |  |
Customer repurchase agreements |  | $ | 33,157 |  |  | $ | — |  |  | $ | 33,157 |  |  | $ | — |  |  | N/A |  | 2.67 | %
Short-term borrowings: |  |  |  |  |  |  |  |  |  |  |  |
Secured borrowings: |  |  |  |  |  |  |  |  |  |  |  |
FHLB |  | 490,000 |  |  | — |  |  | 490,000 |  |  | 874,270 |  |  | Various(3) |  | 4.81 | %
FRB: |  |  |  |  |  |  |  |  |  |  |  |
Discount window |  | — |  |  | — |  |  | — |  |  | 1,800,646 |  |  | N/A |  | N/A
Subordinated notes |  | — |  |  | — |  |  | — |  |  | — |  |  | N/A |  | N/A
Total |  | 490,000 |  |  | — |  |  | 490,000 |  |  | 2,674,916 |  |  |  |  |
Long-term borrowings: |  |  |  |  |  |  |  |  |  |  |  |
Senior notes |  | 77,665 |  |  | (1,557) |  |  | 76,108 |  |  | — |  |  | September 30, 2029 |  | 10.00 | %
Total borrowings |  | $ | 600,822 |  |  | $ | (1,557) |  |  | $ | 599,265 |  |  | $ | 2,674,916 |  |  |  |  |
December 31, 2023: |  |  |  |  |  |  |  |  |  |  |  |
Customer repurchase agreements |  | $ | 30,587 |  |  | $ | — |  |  | $ | 30,587 |  |  | $ | — |  |  | N/A |  | 3.42 | %
Short-term borrowings: |  |  |  |  |  |  |  |  |  |  |  |
Secured borrowings: |  |  |  |  |  |  |  |  |  |  |  |
FHLB |  | — |  |  | — |  |  | — |  |  | 1,271,846 |  |  | N/A |  | N/A
FRB: |  |  |  |  |  |  |  |  |  |  |  |
BTFP |  | 1,300,000 |  |  | — |  |  | 1,300,000 |  |  | 598,870 |  |  | March 22, 2024 |  | 4.53 | %
Discount window |  | — |  |  | — |  |  | — |  |  | 601,504 |  |  | N/A |  | N/A
Raymond James repurchase agreement |  | — |  |  | — |  |  | — |  |  | 17,993 |  |  | N/A |  | N/A
Subordinated notes |  | 70,000 |  |  | (82) |  |  | 69,918 |  |  | — |  |  | September 1, 2024 |  | 5.75 | %
Total |  | 1,370,000 |  |  | (82) |  |  | 1,369,918 |  |  | 2,490,213 |  |  |  |  |
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 borrowings arrangements with the FHLB, the FRB and the Raymond James repurchase line comprise pledged collateral that has not been borrowed against. At December 31, 2024, the Company had total additional undrawn borrowing capacity of approximately $4.0 billion, comprising unencumbered securities available to be pledged of approximately $1.3 billion and undrawn financing on pledged assets of $2.7 billion. (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)FHLB borrowing of $250.0 million matures January 31, 2025 while the remaining $240.0 million matures April 1, 2025. (4)Represent the weighted average interest rate on customer repurchase agreements, borrowings outstanding and the coupon interest rate on the subordinated notes, which approximates the effective interest rate.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration