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Short-Term and Other Borrowings (Tables)

9 Months Ended

Sep. 30, 2024

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:

		September 30, 2024				December 31, 2023
		Short-term Borrowings				Short-term Borrowings
FHLB Advances:
Single maturity fixed rate advances		$	47			$	41
Interest rate on balance			1.18	%			1.25	%
Overnight advances		$	287,000			$	338,000
Interest rate on balance			4.88	%			5.41	%
Total Short-term FHLB Advances		$	287,047			$	338,041

The following table summarizes the Company's subordinated debentures at September 30, 2024 and December 31, 2023.

		September 30, 2024				December 31, 2023
		Subordinated Debentures				Subordinated Debentures
Subordinated Debentures:
First Citizens Statutory Trust II		$	7,732			$	7,732
First Citizens Statutory Trust III			12,887				12,887
First Citizens Statutory Trust IV			5,082				5,082
Futura TPF Trust I			2,578				2,578
Futura TPF Trust II			2,070				2,070
Long-Term Subordinated Debentures			73,718				73,594
Total Subordinated Debentures		$	104,067			$	103,943

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
		Short-term Borrowings				Short-term Borrowings				Short-term Borrowings				Short-term Borrowings
Maximum indebtedness		$	497,500			$	431,500			$	501,500			$	540,000
Average balance			388,022				233,547				385,801				282,214
Average rate paid			5.35	%			5.51	%			5.42	%			5.03	%

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- References

No definition available.

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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
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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