	December 31,
	2020		2019
Trust Preferred Securities:
Marquette Capital Trust I Subordinated Debentures 1.57% due 2036	$	17,553	$	17,195
Marquette Capital Trust II Subordinated Debentures 1.57% due 2036		18,149		17,814
Marquette Capital Trust III Subordinated Debentures 1.74% due 2036		7,139		7,008
Marquette Capital Trust IV Subordinated Debentures 1.82% due 2036		28,873		28,355
Subordinated notes 3.70% due 2030, net of issuance costs		197,881		—
Total long-term debt	$	269,595	$	70,372

The aggregate repayment of long-term debt of $271.7 million is due after December 31, 2025.

The Company assumed long-term debt obligations from the acquisition of Marquette and consists of debt obligations payable to four unconsolidated trusts (Marquette Capital Trust I, Marquette Capital Trust II, Marquette Capital Trust III, and Marquette Capital Trust IV) that previously issued trust preferred securities. These long-term debt obligations had an aggregate contractual balance of $103.1 million and had a carrying value of $71.7 million as of December 31, 2020. Interest rates on trust preferred securities are tied to the three-month LIBOR rate with spreads ranging from 133 basis points to 160 basis points and reset quarterly. The trust preferred securities have maturity dates ranging from January 2036 to September 2036.

In September 2020, the Company issued $200.0 million of 3.70% fixed-to-fixed rate subordinated notes that mature on September 17, 2030. The notes bear interest at the rate of 3.70% per annum, payable semi-annually on each March 17 and September 17. The Company may redeem the notes, in whole or in part, on September 17, 2025, or on any interest payment date thereafter. Unamortized debt issuance costs related to these notes totaled $2.1 million as of December 31, 2020. Proceeds from the issuance of the notes were used for general corporate purposes, including contributing Tier 1 capital into the Bank.

The Company is a member bank of the FHLB of Des Moines. Through this relationship, the Company purchased $10.0 million of FHLB stock and has access to additional liquidity and funding sources through FHLB advances. The Company’s borrowing capacity is dependent upon the amount of collateral the Company places at the FHLB. The Company’s borrowing capacity with the FHLB was $1.5 billion as of December 31, 2020. The Company had no outstanding FHLB advances at FHLB Des Moines as of December 31, 2020.

The Company has a revolving line of credit with Wells Fargo Bank, N.A. which allows the Company to borrow up to $30.0 million for general working capital purposes. The interest rate applied to borrowed balances will be at the Company’s option either 1.25% above LIBOR or 1.75% below the prime rate on the date of an advance. The Company pays 0.4% unused commitment fee for unused portions of the line of credit. The Company currently has no outstanding balance on this line of credit.

The Company enters into sales of securities with simultaneous agreements to repurchase (repurchase agreements). The Company utilizes repurchase agreements to facilitate the needs of customers and to facilitate secured short-term funding needs. Repurchase agreements are stated at the amount of cash received in connection with the transaction. The Company monitors collateral levels on a continuous basis and may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with the Company’s safekeeping agents. The amounts received under these agreements represent short-term borrowings. The amount outstanding at December 31, 2020, was $2.2 billion, with accrued interest payable of $326 thousand. The amount outstanding at December 31, 2019, was $1.9 billion, with accrued interest payable of $220 thousand.

The carrying amounts and market values of the securities and the related repurchase liabilities and weighted average interest rates of the repurchase liabilities (grouped by maturity of the repurchase agreements) were as follows as of December 31, 2020 and 2019 (in thousands):

	As of December 31, 2020
	Securities Fair Market Value		Repurchase Liabilities		Weighted Average Interest Rate
Maturity of the Repurchase Liabilities
2 to 29 days	$	1,625,230	$	1,759,559		0.34	%
30 to 90 Days		504,435		489,302		1.17
Over 90 Days		1,005		1,000		—
Total	$	2,130,670	$	2,249,861		0.52	%

	As of December 31, 2019
	Securities Fair Market Value		Repurchase Liabilities		Weighted Average Interest Rate
Maturity of the Repurchase Liabilities
2 to 29 days	$	1,772,820	$	1,753,870		1.44	%
30 to 90 Days		114,190		110,765		2.72
Total	$	1,887,010	$	1,864,635		1.52	%

The table below presents the remaining contractual maturities of repurchase agreements outstanding at December 31, 2020 and 2019, in addition to the various types of marketable securities that have been pledged as collateral for these borrowings (in thousands):

	As of December 31, 2020
	Remaining Contractual Maturities of the Agreements
	2-29 days		30-90 days		Over 90 Days		Total
Repurchase agreements, secured by:
U.S. Treasury	$	2,440	$	—	$	—	$	2,440
U.S. Agency		1,757,119		489,302		1,000		2,247,421
Total repurchase agreements	$	1,759,559	$	489,302	$	1,000	$	2,249,861

	As of December 31, 2019
	Remaining Contractual Maturities of the Agreements
	2-29 days		30-90 days		Total
Repurchase agreements, secured by:
U.S. Agency	$	1,753,870	$	110,765	$	1,864,635
Total repurchase agreements	$	1,753,870	$	110,765	$	1,864,635