v3.26.1
Borrowed Funds
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Borrowed Funds Borrowed Funds
Borrowed funds at June 30, 2026 and December 31, 2025 were as follows (in thousands):
June 30,December 31,
20262025
FHLB advances
$1,732,373 $1,397,179 
Securities sold under agreements to repurchase with customers61,329 54,434 
Other borrowings493,216 255,233 
Total borrowed funds$2,286,918 $1,706,846 
At June 30, 2026 and December 31, 2025, there were $1.09 billion and $929.2 million, respectively, of FHLB term advances and overnight borrowings from the FHLB of $647.0 million and $468.0 million, respectively.
Pledged assets
The following table presents the assets pledged to secure borrowings, borrowing capacity, repurchase agreements, letters of credit, and for other purposes required by law at carrying value (in thousands):
LoansDebt securitiesTotal
June 30, 2026
FHLB and FRB
$11,843,177 $1,800,384 $13,643,561 
Repurchase agreements— 67,647 67,647 
Total pledged assets$11,843,177 $1,868,031 $13,711,208 
December 31, 2025
FHLB and FRB
$7,923,979 $1,367,469 $9,291,448 
Repurchase agreements— 78,422 78,422 
Total pledged assets$7,923,979 $1,445,891 $9,369,870 

The securities that collateralize the repurchase agreements are delivered to the lender, with whom each transaction is executed, to a third-party custodian, or held at the Company. The lender agrees to resell to the Company substantially the same securities at the maturity of the repurchase agreements.