March 31,

December 31,

(dollars in thousands)

2020

2019

Subordinated debt issued June 2015 – fixed interest rate of 6.00% through June 2020 and a variable interest rate equivalent to three month LIBOR plus 4.35% thereafter, $31,075 and $38,325 at March 31, 2020 and December 31, 2019, respectively - maturing June 18, 2025

$

31,057

$

38,273

Subordinated debt issued June 2015 – fixed interest rate of 6.50%, $550 - maturing June 18, 2025

545

544

Subordinated debt issued October 2017 – fixed interest rate of 6.25% through October 2022 and a variable interest rate equivalent to three month LIBOR plus 4.23% thereafter, $40,000 - maturing October 15, 2027

39,513

39,496

Subordinated debt issued September 2019 – fixed interest rate of 5.00% through September 2024 and a variable interest rate equivalent to three month SOFR plus 3.61% thereafter, $72,750 - maturing September 30, 2029

71,596

71,549

Subordinated debt issued September 2019 – fixed interest rate of 5.50% through September 2029 and a variable interest rate equivalent to three month SOFR plus 4.05% thereafter, $27,250 - maturing September 30, 2034

26,794

26,791

Total subordinated debt

$

169,505

$

176,653