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SHORT AND LONG-TERM BORROWINGS (Tables)
 12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Schedule of long-term debt instruments
The components of long-term borrowings (borrowing with an original contractual maturity greater than one year) were as follows.
(in thousands)
December 31, 2018
 
December 31, 2017
FHLB advances
$
35,252

 
$
36,509

Junior subordinated debentures
30,096

 
29,616

Subordinated notes
11,957

 
11,921

Total long-term borrowings
$
77,305

 
$
78,046
Schedule of maturity of notes payable
The following table shows the maturity schedule of the FHLB advances as of December 31, 2018.
Maturing in:
(in thousands)
2019
$
—

2020
10,000

2021
—

2022
25,252

2023
—

 
$
35,252
Schedule of junior subordinated debentures
All the debentures below are currently callable and may be redeemed in part or in full plus any accrued but unpaid interest.
 
 
 
Junior Subordinated Debentures
(in thousands)
Maturity
Date
 
Par
 
12/31/2018
Unamortized
Discount
 
12/31/2018
Carrying
Value
 
12/31/2017
Carrying
Value
2004 Nicolet Bankshares Statutory Trust(1)
7/15/2034
 
$
6,186

 
$
—

 
$
6,186

 
$
6,186

2005 Mid-Wisconsin Financial Services, Inc.(2)
12/15/2035
 
10,310

 
(3,371
)
 
6,939

 
6,739

2006 Baylake Corp.(3)
9/30/2036
 
16,598

 
(4,120
)
 
12,478

 
12,242

2004 First Menasha Bancshares, Inc.(4)
3/17/2034
 
5,155

 
(662
)
 
4,493

 
4,449

Total
 
 
$
38,249

 
$
(8,153
)
 
$
30,096

 
$
29,616

(1)
The interest rate is 8.00% fixed.
(2)
The debentures, assumed in April 2013 as the result of an acquisition, have a floating rate of the three-month LIBOR plus 1.43%, adjusted quarterly. The interest rates were 4.22% and 3.02% as of December 31, 2018 and 2017, respectively.
(3)
The debentures, assumed in April 2016 as a result of an acquisition, have a floating rate of the three-month LIBOR plus 1.35%, adjusted quarterly. The interest rates were 4.15% and 3.04% as of December 31, 2018 and 2017, respectively.
(4)
The debentures, assumed in April 2017 as the result of an acquisition, have a floating rate of the three-month LIBOR plus 2.79%, adjusted quarterly. The interest rate was 5.58% and 4.39% as of December 31, 2018 and 2017, respectively.