| Balances of Commitments and Contingencies |
The following table presents the balances of commitments and contingencies as of the periods ended (dollars in thousands): | | | | | | | | | June 30, 2025 | | December 31, 2024 | Commitments with off-balance sheet risk: | | | | | | | Commitments to extend credit(1) | | $ | 9,483,098 | | $ | 5,987,562 | Letters of credit | | | 226,035 | | | 145,985 | Total commitments with off-balance sheet risk | | $ | 9,709,133 | | $ | 6,133,547 |
(1) Includes unfunded overdraft protection.
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| Schedule of Pledged Assets, Not Separately Reported on Statement of Financial Position |
| | | | | | | | | | | | | | | | | | Pledged Assets as of June 30, 2025 | | | | | | | | | AFS | | HTM | | | | | | | | | Cash | | Securities (1) | | Securities (1) | | Loans (2) | | Total | Public deposits | | $ | — | | $ | 978,585 | | $ | 593,439 | | $ | — | | $ | 1,572,024 | Repurchase agreements | | | — | | | 158,384 | | | — | | | — | | | 158,384 | FHLB advances | | | — | | | 553,208 | | | 9,498 | | | 8,451,081 | | | 9,013,787 | Derivatives | | | 100,203 | | | 63,653 | | | — | | | — | | | 163,856 | Federal Reserve Discount Window | | | — | | | — | | | — | | | 4,970,761 | | | 4,970,761 | Other purposes | | | — | | | 42,836 | | | — | | | — | | | 42,836 | Total pledged assets | | $ | 100,203 | | $ | 1,796,666 | | $ | 602,937 | | $ | 13,421,842 | | $ | 15,921,648 |
(1) Balance represents market value. (2) Balance represents book value. | | | | | | | | | | | | | | | | | | Pledged Assets as of December 31, 2024 | | | | | | | | | AFS | | HTM | | | | | | | | | Cash | | Securities (1) | | Securities (1) | | Loans (2) | | Total | Public deposits | | $ | — | | $ | 771,486 | | $ | 601,421 | | $ | — | | $ | 1,372,907 | Repurchase agreements | | | — | | | 93,667 | | | — | | | — | | | 93,667 | FHLB advances | | | — | | | 579,947 | | | 9,417 | | | 4,089,049 | | | 4,678,413 | Derivatives | | | 134,668 | | | 62,199 | | | — | | | — | | | 196,867 | Federal Reserve Discount Window | | | — | | | — | | | — | | | 4,358,701 | | | 4,358,701 | Other purposes | | | — | | | 18,713 | | | — | | | — | | | 18,713 | Total pledged assets | | $ | 134,668 | | $ | 1,526,012 | | $ | 610,838 | | $ | 8,447,750 | | $ | 10,719,268 |
(1) Balance represents market value. (2) Balance represents book value.
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