Federal Home Loan Bank Advances and Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2022

FEDERAL HOME LOAN BANK ADVANCES AND LONG-TERM DEBT

Schedule Of FHLB and Long-Term Debt

The following table presents the balance of the Company’s junior subordinated debt and FHLB advances as of December 31, 2022 and 2021, and the related contractual rates and maturity dates as of December 31, 2022:

($ in thousands)	Interest Rate	Maturity Dates	December 31,
			2022		2021
			Amount		Amount
Parent company
Junior subordinated debt (1 ) — floating (2)	6.12% — 6.67%	2034 — 2037	$	147,950	$	147,658
Bank
FHLB advances (3 )— floating (2)	—%	2022	$	—	$	249,331

(1)The weighted-average contractual interest rates for junior subordinated debt were 3.49% and 1.74% as of December 31, 2022 and 2021, respectively.

(2)Floating interest rates reset monthly or quarterly based on London Interbank Offered Rate (“LIBOR”).

(3)The weighted-average contractual interest rates for FHLB advances were 1.89% and 1.17% as of December 31, 2022 and 2021, respectively.

Schedule of the Components of Long-Term Debt

The following table presents the outstanding junior subordinated debt issued by each trust as of December 31, 2022, and 2021:

Issuer	Stated Maturity (1)	Stated Interest Rate	Current Rate	December 31, 2022				December 31, 2021
				Aggregate Principal Amount of Trust Securities		Aggregate Principal Amount of the Junior Subordinated Debt		Aggregate Principal Amount of Trust Securities		Aggregate Principal Amount of the Junior Subordinated Debt
($ in thousands)
East West Capital Trust V	November 2034	3-month LIBOR + 1.80%	6.49%	$	464	$	15,000	$	464	$	15,000
East West Capital Trust VI	September 2035	3-month LIBOR + 1.50%	6.27%	619		20,000		619		20,000
East West Capital Trust VII	June 2036	3-month LIBOR + 1.35%	6.12%	928		30,000		928		30,000
East West Capital Trust VIII	June 2037	3-month LIBOR + 1.40%	6.13%	619		18,000		619		18,000
East West Capital Trust IX	September 2037	3-month LIBOR + 1.90%	6.67%	928		30,000		928		30,000
MCBI Statutory Trust I	December 2035	3-month LIBOR + 1.55%	6.32%	1,083		35,000		1,083		35,000
Total				$	4,641	$	148,000	$	4,641	$	148,000

(1)The debt instruments above mature in more than five years after December 31, 2022 and are subject to call options where early redemption requires appropriate notice.