XML 96 R34.htm IDEA: XBRL DOCUMENT v3.20.1
Borrowings and Subordinated Debt (Tables)
3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Components of Long-term Debt and Short-term Borrowings
The following table presents the components of our short-term borrowings and long-term debt.
 
 
March 31, 2020
 
December 31, 2019
(Dollars in thousands)
 
Amount
 
Weighted
Average
Rate
(1)
 
Amount
 
Weighted
Average
Rate
(1)
Short-term borrowings:
 
 

 
 

 
 

 
 

FHLB Advances
 
$
25,000

 
0.29
%
 
$
60,000

 
1.61
%
Securities sold under agreements to repurchase
 
176

 
0.30

 
851

 
0.30

Federal funds purchased
 

 

 
5,000

 
1.90

Total short-term borrowings
 
25,176

 
0.29

 
65,851

 
1.62

Long-term debt:
 
 
 
 
 
 
 
 
Secured borrowing due in 2022
 
1,357

 
1.00

 
1,374

 
1.00

FHLB advances due in 2022 to 2029(2)
 
185,254

 
1.10

 
145,000

 
1.06

Subordinated notes due in 2025 and 2029(3)
 
44,447

 
5.29

 
44,440

 
5.29

Total long-term debt
 
231,058

 
1.91

 
190,814

 
2.04

Total short-term and long-term borrowings
 
$
256,234

 
1.75
%
 
$
256,665

 
1.93
%
_______________________________________________________________________________
(1) Weighted average rate presented is the contractual rate which excludes premiums and discounts related to purchase accounting.
(2) At March 31, 2020, the long-term FHLB advances consisted of 0.42% - 2.93% fixed rate notes and can be called through 2024 without penalty by the issuer. The March 31, 2020 balance includes FHLB advances of $185.0 million and purchase accounting premiums of $254 thousand.
(3) The March 31, 2020 balance includes subordinated notes of $45.0 million and debt issuance costs of $553 thousand. The December 31, 2019 balance includes subordinated notes of $45.0 million and debt issuance costs of $560 thousand.