Borrowings (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consisted of the following:

($ in thousands)	September 30, 2024		December 31, 2023		Issue Date	Stated Maturity Date	Earliest Call Date	Interest Rate
FHLB Advances	$	50,000	—		2024	2025		4.786%
Total long-term advances	50,000		—
September 2030 Subordinated Debentures	25,000		$	25,000	2020	2030	2025	5.375% through September 2025, 3-month SOFR + 5.265% thereafter
October 2030 Subordinated Debentures	19,500		19,500		2020	2030	2025	4.75% through October 2025, 3-month SOFR + 4.58% thereafter
Total subordinated debentures	44,500		44,500
Severn Capital Trust I	20,619		20,619		2004	2035		3-month SOFR + 2.00%
Tri-County Capital Trust I	7,217		7,217		2004	2034		90-day SOFR + 2.60%
Tri-County Capital Trust II	5,155		5,155		2005	2035		90-day SOFR + 1.70%
Total trust preferred securities	32,991		32,991
Less net discount and unamortized issuance costs	(4,035)		(4,822)
Total long-term debt	$	123,456	$	72,669