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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 - PrincipalUnamortized Deferred Issuance CostsNet Borrowings Outstanding
Available Capacity (1)(2)
Maturity Dates
Interest Rates (4)
December 31, 2024:
Customer repurchase agreements$33,157 $— $33,157 $— N/A2.67 %
Short-term borrowings:
Secured borrowings:
FHLB490,000 — 490,000 874,270 
Various(3)
4.81 %
FRB:
Discount window— — — 1,800,646 N/AN/A
Subordinated notes— — — — N/AN/A
Total490,000 — 490,000 2,674,916 
Long-term borrowings:
Senior notes
77,665 (1,557)76,108 — September 30, 202910.00 %
Total borrowings$600,822 $(1,557)$599,265 $2,674,916 
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 %
Total1,370,000 (82)1,369,918 2,490,213 
Long-term borrowings:
Senior notes
— — — — N/AN/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.