Borrowed Funds (Tables)
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3 Months Ended |
Mar. 31, 2025 |
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| Debt Disclosure [Abstract] |
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| Schedule of Borrowed Funds |
Borrowed funds as of March 31, 2025 and December 31, 2024 are summarized as follows (in thousands): | | | | | | | | | | | | | March 31, 2025 | | December 31, 2024 | | Securities sold under repurchase agreements | $ | 114,132 | | | 113,224 | | | FHLBNY line of credit | 555,000 | | | 385,000 | | | FHLBNY advances | 1,663,897 | | | 1,518,497 | | | Purchase accounting adjustment ("PAA") on borrowed funds | 3,162 | | | 3,714 | | | Total Borrowed Funds | $ | 2,336,191 | | | 2,020,435 | |
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| Scheduled of Maturities of FHLB Advances |
Scheduled maturities of FHLBNY advances and lines of credit, including purchase accounting adjustments resulting from the Lakeland merger as of March 31, 2025 are as follows (in thousands): | | | | | | | | 2025 | | Due in one year or less | $ | 1,708,290 | | | Due after one year through two years | 157,445 | | | Due after two years through three years | 353,162 | | | Due after three years through four years | — | | | | | Thereafter | — | | | Purchase accounting adjustment on borrowed funds | 3,162 | | | Total FHLBNY advances and overnight borrowings | $ | 2,222,059 | |
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| Scheduled of Maturities of Sold Under Repurchase Agreements |
Scheduled maturities of securities sold under repurchase agreements as of March 31, 2025 are as follows (in thousands): | | | | | | | | 2025 | | Due in one year or less | $ | 114,132 | | | | | | | | | | | Thereafter | — | | | Total securities sold under repurchase agreements | $ | 114,132 | |
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| Scheduled of Debt Disclosure by Year |
The following tables set forth certain information as to borrowed funds for the periods ended March 31, 2025 and December 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | Maximum balance | | Average balance | | Weighted average interest rate | | March 31, 2025 | | | | | | | Securities sold under repurchase agreements | $ | 117,946 | | | 113,407 | | | 2.06 | % | | FHLBNY overnight borrowings | 555,000 | | | 319,278 | | | 4.53 | | | FHLBNY advances | 1,732,427 | | | 1,481,860 | | | 3.88 | | | | | | | | | December 31, 2024 | | | | | | | Securities sold under repurchase agreements | $ | 117,323 | | | 102,043 | | | 2.03 | % | | FHLBNY overnight borrowings | 567,000 | | | 115,902 | | | 5.45 | | | FHLBNY advances | 1,518,497 | | | 1,290,836 | | | 3.41 | | | FRBNY BTFP Borrowing | 550,000 | | | 472,077 | | | 4.78 | |
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