v3.26.1
Debt
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Debt
Note 6. Debt
The Company’s debt and borrowing arrangements consist of:
June 30,
2026		December 31,
2025
(Dollars in thousands)
Short-term borrowings$744,000 $199,000 
Senior debt:
Senior notes due 2030$200,000 $200,000 
Debt issuance costs(3,472)(3,747)
Senior debt, net$196,528 $196,253 
Subordinated debentures$13,401 $13,401 
Other long-term borrowings$4,327 $13,712 
Assets pledged as collateral that are not available to pay the Company’s general obligations as of June 30, 2026 consisted of $4.87 billion of loans held for investment at amortized cost and $1.36 billion of investment securities that were pledged for short-term-borrowing agreements. In addition, there were $4.3 million of loans held for investment at amortized cost that were pledged for other long-term borrowings at June 30, 2026.
Short-term borrowings
The Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank lines are periodically utilized to manage liquidity. The amount of loans pledged varies and the collateral may be unpledged at any time to the extent the collateral exceeds advances. As of June 30, 2026, based on the amount of loans and investment securities pledged, as outlined above, total capacity of short-term borrowings was $4.53 billion, there was $744.0 million borrowed and $3.79 billion available capacity.