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BORROWING ARRANGEMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
BORROWING ARRANGEMENTS [Abstract]  
Debentures and Trust Preferred Securities
The following table is a detail of the debentures and TPS at December 31, 2024 (dollars in thousands):
Issue Date
  
Amount
of TPS
    
Amount
of Debentures
    
Stated Maturity Date
of TPS and
Debentures(1)
  
Interest Rate of
TPS and Debentures(2)(3)
SPFCT III
2004
  
$
10,000
    
$
10,310
      
2034
  
3-mo. CME Term SOFR +
291bps; 7.54%
SPFCT IV
2005
    
20,000
      
20,619
      
2035
  
3-mo. CME Term SOFR +
165bps; 6.01%
SPFCT V
2007
    
15,000
      
15,464
      
2037
  
3-mo. CME Term SOFR +
176bps; 6.12%
Total
    
$
45,000
    
$
46,393
             

(1)
May be redeemed five years from the issue date, the Company has no current plans to redeem; (2) Interest payable quarterly with principal due at maturity; (3) Rate as of last reset date.