Short-term Borrowings (Tables)

6 Months Ended

Jun. 30, 2026

Short-term borrowings

Schedule of short-term borrowings

Short-term borrowings are summarized as follows (in thousands).


		June 30,			December 31,
		2026			2025
Federal funds purchased		$	480,348		$	153,208
Securities sold under agreements to repurchase			383,306			269,309
Federal Home Loan Bank			—			—
Short-term bank loans			133,000			—
Commercial paper			246,560			254,365
		$	1,243,214		$	676,882

Federal funds purchased

Short-term borrowings

Schedule of short-term borrowings

Information concerning federal funds purchased is shown in the following table (dollars in thousands).


		Six Months Ended June 30,
		2026			2025
Average balance during the period		$	631,495		$	523,937
Average interest rate during the period			4.15	%		4.47	%

Securities sold under agreements to repurchase

Short-term borrowings

Schedule of short-term borrowings

Information concerning securities sold under agreements to repurchase is shown in the following table (dollars in thousands).


		June 30,			December 31,
		2026			2025
Average interest rate at end of period			3.83	%		4.25	%
Securities underlying the agreements at end of period:
Contract value of repurchase agreements		$	382,586		$	268,805
Fair value of securities pledged as collateral		$	405,896		$	292,493

Federal Home Loan Bank

Short-term borrowings

Schedule of short-term borrowings

Other information regarding FHLB short-term borrowings is shown in the following table (dollars in thousands).


		Six Months Ended June 30,
		2026			2025
Average balance during the period		$	—		$	—
Average interest rate during the period			3.85	%		4.68	%