v3.25.2
Borrowed Funds (Tables)
6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Borrowed Funds
Borrowed funds as of June 30, 2025 and December 31, 2024 are summarized as follows (in thousands):
June 30, 2025December 31, 2024
Securities sold under repurchase agreements$98,519 113,224 
FHLBNY line of credit378,000 385,000 
FHLBNY advances
1,895,295 1,518,497 
Purchase accounting adjustment on borrowed funds2,846 3,714 
Total borrowed funds$2,374,660 2,020,435 
Maturities of FHLBNY Advances, FRBNY BTFP Borrowings and Lines of Credit
Scheduled maturities of FHLBNY advances and lines of credit, including purchase accounting adjustments resulting from the Lakeland merger as of June 30, 2025 are as follows (in thousands):
 2025
Due in one year or less$1,136,350 
Due after one year through two years386,945 
Due after two years through three years450,000 
Due after three years through four years200,000 
Due after four years through five years100,000 
Thereafter— 
Purchase accounting adjustment on borrowed funds2,846 
Total FHLBNY advances and overnight borrowings$2,276,141 
Maturities of Sold Under Repurchase Agreements
Scheduled maturities of securities sold under repurchase agreements as of June 30, 2025 are as follows (in thousands):
 2025
Due in one year or less$98,519 
Thereafter— 
Total securities sold under repurchase agreements$98,519 
Debt Disclosure by Year
The following tables set forth certain information as to borrowed funds for the periods ended June 30, 2025 and December 31, 2024 (in thousands):
Maximum
balance
Average
balance
Weighted average
interest rate
June 30, 2025
Securities sold under repurchase agreements$117,946 111,631 2.16 %
FHLBNY overnight borrowings704,000 355,525 4.54 
FHLBNY advances2,368,897 1,735,392 3.94 
December 31, 2024
Securities sold under repurchase agreements$117,323 102,043 2.03 %
FHLBNY overnight borrowings567,000 115,902 5.45 
FHLBNY advances1,518,497 1,290,836 3.41 
FRBNY BTFP Borrowing550,000 472,077 4.78