Short-Term Borrowings and Long-Term Debt

9 Months Ended

Sep. 30, 2025

Short-Term Borrowings and Long-Term Debt

The table below presents a summary of short-term borrowings:


(in thousands)	September 30, 2025		December 31, 2024
Federal funds purchased	$	275,000	$	—

Federal Home Loan Bank borrowings	—		885,000
Total short-term borrowings	$	275,000	$	885,000

The table below presents a summary of long-term debt:



(in thousands)	September 30, 2025		December 31, 2024


Bank-issued 5.25% fixed rate subordinated notes due 2026	$	134,459	$	174,717
Company-issued 4.00% fixed rate subordinated notes due 2031	372,551		372,223
Trust preferred floating rate subordinated debentures due 2032 to 2036	113,406		113,406
Total long-term debt	$	620,416	$	660,346

During the second quarter of 2025, the Company partially paid down $40.5 million of the bank-issued 5.25% fixed rate subordinated notes due 2026.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details