Other Borrowings and Notes Payable (Tables)

12 Months Ended

Dec. 31, 2021

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 an acquisition in 2019. The interest rate is one-month LIBOR plus 125 basis points. In February 2022, the interest rate on the Term Loan was amended to one-month Term SOFR plus 136 basis points.

A summary of the Term Loan is as follows:

	December 31,
($ in thousands)	2021			2020
Term Loan	$	22,857		$	30,000
Average balance during the year	26,427			32,123
Maximum balance outstanding at any month-end	28,571			34,286
Weighted average interest rate during the year	1.40		%	1.96		%
Average interest rate at December 31	1.38		%	1.44		%

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 has a one-year term, maturing on February 22, 2022. It allows 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. In February 2022, the Revolving Agreement was renewed for a one-year term and the interest rate was amended to one-month Term SOFR plus 136 basis points. The revolving credit line was not accessed in 2021 or 2020.

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)	2021			2020
Securities sold under agreement to repurchase	$	331,006		$	271,081
Average balance during the year	225,895			206,338
Maximum balance outstanding at any month-end	331,006			271,081
Average interest rate during the year	0.10		%	0.23		%
Average interest rate at December 31	0.06		%	0.07		%