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Short and Long-Term Borrowings (Tables)
 6 Months Ended
Jun. 30, 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)June 30, 2020December 31, 2019
PPP Liquidity Facility (“PPPLF”)
$335,981  $—  
FHLB advances39,030  25,061  
Junior subordinated debentures30,815  30,575  
Subordinated notes12,000  11,993  
Total long-term borrowings
$417,826  $67,629  
Schedule of junior subordinated debentures
Junior Subordinated Debentures
June 30, 2020December 31, 2019
(in thousands)Maturity
Date		ParUnamortized
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)
12/15/203510,310  (3,072) 7,238  7,138  
2006 Baylake Corp. (3)
9/30/203616,598  (3,765) 12,833  12,715  
2004 First Menasha Bancshares, Inc. (4)
3/17/20345,155  (597) 4,558  4,536  
Total $38,249  $(7,434) $30,815  $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 1.74% and 3.32% as of June 30, 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 1.66% and 3.31% as of June 30, 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 3.09% and 4.69% as of June 30, 2020 and December 31, 2019, respectively.