Borrowings (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of distribution of securities sold under agreements to repurchase and short-term borrowings and weighted average interest rates

Securities sold under agreements to repurchase were as follows (dollars in thousands):

	As of
	September 30, 2022			December 31, 2021
Securities sold under agreements to repurchase	$	234,597		$	270,139
Weighted average rate for securities sold under agreements to repurchase	0.98		%	0.08		%

Schedule of Short-term Borrowings

Short-term borrowings are summarized as follows (dollars in thousands):

	As of
	September 30, 2022		December 31, 2021
Short-term borrowings
FHLB advances maturing in less than one year from date of origination, and the current portion of long-term FHLB advances due within 12 months	$	4,225	$	5,678
Term Loan, current portion due within 12 months	12,000		12,000
Total short-term debt	$	16,225	$	17,678

Summary of Long-term Debt

Long-term debt is summarized as follows (dollars in thousands):

	As of
	September 30, 2022		December 31, 2021
Long-term debt
Notes payable, FHLB, original maturity of 5 years, collateralized by FHLB deposits, residential and commercial real estate loans and FHLB stock	$	—	$	4,056
Term Loan	33,000		42,000
Total long-term debt	$	33,000	$	46,056

Schedule of unamortized debt issuance cost

Unamortized debt issuance costs related to senior notes and subordinated notes are presented in the following table (dollars in thousands):

	As of
	September 30, 2022		December 31, 2021
Unamortized debt issuance costs
Senior notes issued in 2017	$	—	$	56
Subordinated notes issued in 2017	—		549
Subordinated notes issued in 2020	1,337		1,678
Subordinated notes issued in 2022	1,828		—
Total unamortized debt issuance costs	$	3,165	$	2,283