Borrowings (Tables)

3 Months Ended

Mar. 31, 2022

Borrowings

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
	March 31,			December 31,
	2022			2021
Securities sold under agreements to repurchase	$	255,668		$	270,139
Weighted average rate for securities sold under agreements to repurchase		0.15	%		0.08	%

Summary of long-term debt

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

	As of
	March 31,		December 31,
	2022		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	$	5,683	$	5,678
Term Loan, current portion due within 12 months		12,000		12,000
Total short-term debt	$	17,683	$	17,678

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

	As of
	March 31,		December 31,
	2022		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	$	3,881	$	4,056
Term Loan		39,000		42,000
Total long-term debt	$	42,881	$	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
	March 31,		December 31,
	2022		2021
Unamortized debt issuance costs
Senior notes issued in 2017	$	22	$	56
Subordinated notes issued in 2017		254		549
Subordinated notes issued in 2020		1,566		1,678
Total unamortized debt issuance costs	$	1,842	$	2,283