Other Borrowings and Notes Payable (Tables)

12 Months Ended

Dec. 31, 2019

Debt Instrument [Line Items]

Schedule of Long-term Debt Instruments [Table Text Block]

Term Loan

In February 2019, the Company entered into a five year, $40.0 million unsecured term loan agreement (the “Term Loan”) with another bank with the proceeds primarily used to fund the company’s cash portion of the acquisition of Trinity. The interest rate is the one-month LIBOR plus 125 basis points.

A summary of the Term Loan is as follows:

	December 31,
($ in thousands)	2019
Term Loan	$	34,286
Average balance during the year	30,810
Maximum balance outstanding at any month-end	40,000
Weighted average interest rate during the year	3.55		%
Average interest rate at December 31	3.00

Schedule of Line of Credit Facilities [Table Text Block]

Revolving Credit Line

In February 2016, the Company entered into a senior unsecured revolving credit agreement (the “Revolving Agreement”) with another bank. The Revolving Agreement was amended in February 2020, with a one-year maturity, allowing for borrowings up to $25 million. The interest rate is the one-month LIBOR plus 125 basis points. The proceeds can be used for general corporate purposes. The Revolving Agreement is subject to ongoing compliance with a number of customary affirmative and negative covenants as well as specified financial covenants. 

A summary of the amounts drawn on the Revolving Agreement is as follows:

	December 31,
($ in thousands)	2019			2018
Outstanding balance	$	—		$	2,000
Average balance during the year	323			22
Maximum balance outstanding at any month-end	2,000			2,000
Weighted average interest rate during the year	4.61		%	4.63		%
Average interest rate at December 31	—			4.63

Other Borrowings

Debt Instrument [Line Items]

Summary of Other Borrowings

A summary of securities sold under agreements to repurchase is as follows:

	December 31,
($ in thousands)	2019			2018
Securities sold under agreement to repurchase	$	230,886		$	221,450
Average balance during the year	169,179			170,963
Maximum balance outstanding at any month-end	230,886			231,450
Average interest rate during the year	0.69		%	0.41		%
Average interest rate at December 31	0.91			0.49