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Short-Term Borrowings

3 Months Ended

Mar. 31, 2023

Short-Term Borrowings

Short-Term Borrowings

NOTE 9 Short-Term Borrowings

Short-term borrowings at March 31, 2023 and December 31, 2022 consisted of the following:

​

​	​	​	​	​	​	​
​	​	March 31,		​	December 31,
(dollars in thousands)		2023			2022
Fed funds purchased	​	$	372,145	​	$	153,080
FHLB short-term advances	​		—	​		225,000
Total	​	$	372,145	​	$	378,080

​

The following table presents information related to short-term borrowings for the three months ended March 31, 2023 and 2022:

​

​	​	​	​	​	​	​	​
​	​	Three months ended					​
​	​	March 31,					​
(dollars in thousands)		2023			2022		​
Fed funds purchased		​	​	​	​	​	​
Balance as of end of period	​	$	372,145	​	$	—	​
Average daily balance	​	​	290,187	​	​	—	​
Maximum month-end balance	​	​	393,600	​	​	—	​
Weighted-average rate	​	​	​	​	​	​	​
During period	​	​	4.84	%	​	—	%
End of period	​	​	5.05	%	​	—	%
FHLB short-term advances	​	​	​	​	​	​	​
Balance as of end of period	​	$	—	​	$	—	​
Average daily balance	​	​	80,000	​	​	—	​
Maximum month-end balance	​	​	225,000	​	​	—	​
Weighted-average rate	​	​	​	​	​	​	​
During period	​	​	4.69	%	​	—	%
End of period	​	​	—	%	​	—	%

​

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- References

No definition available.

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- Definition

The entire disclosure for short-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

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