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Short-Term Borrowings and Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Debt
The following table presents details of the Company’s junior subordinated debt and short-term borrowings as of December 31, 2023 and 2022,
December 31,
20232022
($ in thousands)
Interest Rate
Maturity Dates
AmountAmount
Parent company
Junior subordinated debt (1 ) — floating (2)
7.00% — 7.55%
2034 — 2037$148,249 $147,950 
Bank
Short-term borrowings4.37%3/19/2024$4,500,000 $— 
(1)The weighted-average contractual interest rates for junior subordinated debt were 6.87% and 3.49% as of December 31, 2023 and 2022, respectively.
(2)During the third quarter of 2023, all junior subordinated debt that referenced London Interbank Offered Rate transitioned to a Secured Overnight Financing Rate (“SOFR”)-based replacement rate plus the applicable stated margin.
Schedule of Components of Long-Term Debt
The following table presents the outstanding junior subordinated debt issued by each trust as of December 31, 2023 and 2022:
December 31, 2023December 31, 2022
Issuer
Stated Maturity (1)
Stated Interest Rate
Current Rate
Aggregate Principal Amount of Trust Securities
Aggregate Principal Amount of the Junior Subordinated Debt
Aggregate Principal Amount of Trust Securities
Aggregate Principal Amount of the Junior Subordinated Debt
($ in thousands)
East West Capital Trust VNovember 2034
3-month CME Term SOFR + 2.06%
7.44%$464 $15,000 $464 $15,000 
East West Capital Trust VISeptember 2035
3-month CME Term SOFR + 1.76%
7.15%619 20,000 619 20,000 
East West Capital Trust VIIJune 2036
3-month CME Term SOFR + 1.61%
7.00%928 30,000 928 30,000 
East West Capital Trust VIIIJune 2037
3-month CME Term SOFR + 1.66%
7.02%619 18,000 619 18,000 
East West Capital Trust IXSeptember 2037
3-month CME Term SOFR + 2.16%
7.55%928 30,000 928 30,000 
MCBI Statutory Trust IDecember 2035
3-month CME Term SOFR + 1.81%
7.20%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, 2023 and are subject to call options where early redemption requires appropriate notice.