Short and Long-Term Borrowings (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of components of long-term borrowings

The components of long-term borrowings (borrowing with an original maturity greater than one year) were as follows.

(in thousands)	March 31, 2020			December 31, 2019
FHLB advances	$	40,046		$	25,061
Junior subordinated debentures	30,695			30,575
Subordinated notes	12,000			11,993
Total long-term borrowings	$	82,741		$	67,629
Percent of fixed rate long-term borrowings	70		%	64		%
Percent of floating rate long-term borrowings	30		%	36		%

Schedule of junior subordinated debentures

		Junior Subordinated Debentures
				3/31/2020			3/31/2020		12/31/19
(in thousands)	Maturity Date	Par		Unamortized Discount			Carrying Value		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		(3,122		)	7,188		7,138
2006 Baylake Corp. (3)	9/30/2036	16,598		(3,824		)	12,774		12,715
2004 First Menasha Bancshares, Inc. (4)	3/17/2034	5,155		(608		)	4,547		4,536
Total		$	38,249	$	(7,554	)	$	30,695	$	30,575

(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 2.17% and 3.32% as of March 31, 2020 and December 31, 2019, 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 2.72% and 3.31% as of March 31, 2020 and December 31, 2019, 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 rates were 3.63% and 4.69% as of March 31, 2020 and December 31, 2019, respectively.