v3.25.2
Borrowed Funds
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Borrowed Funds Borrowed Funds
Borrowed funds at June 30, 2025 and December 31, 2024 were as follows (in thousands):
June 30,December 31,
20252024
FHLB advances$938,687 $1,072,611 
Securities sold under agreements to repurchase with customers61,490 60,567 
Other borrowings198,019 197,546 
Total borrowed funds$1,198,196 $1,330,724 
At June 30, 2025, there were $801.7 million of term advances and $137.0 million of overnight borrowings from the FHLB, as compared to $1.07 billion and none at December 31, 2024, respectively.
Pledged assets
The following table presents the assets pledged to secure borrowings, borrowing capacity, repurchase agreements, letters of credit, and for other purposes required by law at carrying value (in thousands):
LoansDebt securitiesTotal
June 30, 2025
FHLB and FRB$7,324,626 $918,897 $8,243,523 
Repurchase agreements— 64,720 64,720 
Total pledged assets$7,324,626 $983,617 $8,308,243 
December 31, 2024
FHLB and FRB$7,427,247 $984,515 $8,411,762 
Repurchase agreements— 85,529 85,529 
Total pledged assets$7,427,247 $1,070,044 $8,497,291 

The securities that collateralize the repurchase agreements are delivered to the lender, with whom each transaction is executed, to a third-party custodian, or held at the Company. The lender agrees to resell to the Company substantially the same securities at the maturity of the repurchase agreements.