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v3.23.1

Short-Term and Other Borrowings (Tables) | 3 Months Ended
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Mar. 31, 2023
Debt Disclosure [Abstract] |
Summary of Federal Funds Purchased, Securities Sold Under Agreements to Repurchase and Other Short-term Borrowings | Short-term and other borrowings, which consist of federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings, are summarized as follows:
|  | At March 31, 2023 |  |  | At December 31, 2022 |
|  | Federal Funds Purchased |  |  | Short-term Borrowings |  |  | Federal Funds Purchased |  |  | Short-term Borrowings |
Outstanding balance |  | $ | — |  |  | $ | 212,000 |  |  | $ | — |  |  | $ | 393,700 |
Interest rate on balance |  |  | — |  |  |  | 4.86 | % |  |  | — |  |  |  | 4.24 | %
|  | Three Months Ended March 31, |
|  | 2023 |  |  | 2023 |  |  | 2022 |  |  | 2022 |
|  | Federal Funds Purchased |  |  | Short-term Borrowings |  |  | Federal Funds Purchased |  |  | Short-term Borrowings |
Maximum indebtedness |  | $ | 30,000 |  |  | $ | 540,000 |  |  | $ | — |  |  | $ | 15,800 |
Average balance |  |  | 333 |  |  |  | 372,226 |  |  |  | — |  |  |  | 358 |
Average rate paid |  |  | 5.96 | % |  |  | 4.64 | % |  |  | — |  |  |  | 0.30 | %
Summary of Securities Pledged as Collateral Under Repurchase Agreements | The following table presents detail regarding the securities pledged as collateral under repurchase agreements as of March 31, 2023 and December 31, 2022. All of the repurchase agreements are overnight agreements.
|  | March 31, 2023 |  |  | December 31, 2022 |
Securities pledged for repurchase agreements: |  |  |  |  |  |
U.S. Treasury securities |  | $ | 15,631 |  |  | $ | 25,143 |
Obligations of U.S. government agencies |  |  | — |  |  |  | — |
Total securities pledged |  | $ | 15,631 |  |  | $ | 25,143 |
Gross amount of recognized liabilities for repurchase agreements |  | $ | 15,631 |  |  | $ | 25,143 |
Amounts related to agreements not included in offsetting disclosures above |  | $ | — |  |  | $ | — |

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- Definition Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312 + Details
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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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