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OTHER BORROWINGS
 9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]  
OTHER BORROWINGS
NOTE 7 – OTHER BORROWINGS
 
Other borrowings consist of the following:
(dollars in thousands)
September 30,
2019
 
December 31,
2018
FHLB borrowings:
 

 
 

Convertible Flipper Advance due May 22, 2019; fixed interest rate of 4.68%
$
—

 
$
1,514

Principal Reducing Advance due June 20, 2019; fixed interest rate of 1.274%
—

 
500

Fixed Rate Advance due October 11, 2019; fixed interest rate of 2.14%
100,000

 
—

Fixed Rate Advance due October 15, 2019; fixed interest rate of 2.14%
50,000

 
—

Fixed Rate Advance due October 17, 2019; fixed interest rate of 2.23%
50,000

 
—

Fixed Rate Advance due October 21, 2019; fixed interest rate of 2.10%
100,000

 
—

Fixed Rate Advance due October 21, 2019; fixed interest rate of 2.10%
100,000

 
—

Fixed Rate Advance due October 24, 2019; fixed interest rate of 2.08%
50,000

 
—

Fixed Rate Advance due October 28, 2019; fixed interest rate of 2.02%
75,000

 
—

Fixed Rate Advance due October 30, 2019; fixed interest rate of 2.01%
200,000

 
—

Fixed Rate Advance due November 18, 2019; fixed interest rate of 2.11%
75,000

 
—

Fixed Rate Advance due November 19, 2019; fixed interest rate of 2.13%
75,000

 
—

Fixed Rate Advance due December 16, 2019; fixed interest rate of 2.05%
150,000

 
—

Fixed Rate Advance due December 23, 2019; fixed interest rate of 2.04%
100,000

 
—

Fixed Rate Advance due December 9, 2030; fixed interest rate of 4.55%
1,425

 
1,434

Fixed Rate Advance due December 9, 2030; fixed interest rate of 4.55%
987

 
993

Principal Reducing Advance due September 29, 2031; fixed interest rate of 3.095%
1,749

 
1,858

Subordinated notes payable:
 

 
 

Subordinated notes payable due March 15, 2027 net of unamortized debt issuance cost of $976 and $1,074, respectively; fixed interest rate of 5.75% through March 14, 2022; variable interest rate thereafter at three-month LIBOR plus 3.616%
74,024

 
73,926

Subordinated notes payable due May 31, 2030 net of unaccreted purchase accounting fair value adjustment of $1,596 and $0, respectively; fixed interest rate of 5.875% through May 31, 2025; variable interest rate thereafter at three-month LIBOR plus 3.630%
76,596

 
—

Other debt:
 

 
 

Advance from correspondent bank due October 5, 2019; secured by a loan receivable; fixed interest rate of 4.25%
—

 
20

Advance from correspondent bank due September 5, 2026; secured by a loan receivable; fixed interest rate of 2.09%
1,391

 
1,529

Advances under revolving credit agreement with a regional bank due September 26, 2020; secured by subsidiary bank stock; variable interest rate at 90-day LIBOR plus 3.50% (5.63% at September 30, 2019)
70,000

 
70,000

Total
$
1,351,172

 
$
151,774


 
The advances from the FHLB are collateralized by a blanket lien on all eligible first mortgage loans and other specific loans in addition to FHLB stock. At September 30, 2019, $1.72 billion was available for borrowing on lines with the FHLB.
 
At September 30, 2019, the Company had a revolving credit arrangement with a regional bank with a maximum line amount of $100.0 million.  This line of credit is secured by subsidiary bank stock, expires on September 26, 2020, and bears a variable interest rate of 90-day LIBOR plus 3.50%.  At September 30, 2019, there was $30.0 million available for borrowing under the revolving credit arrangement.
 
As of September 30, 2019, the Bank maintained credit arrangements with various financial institutions to purchase federal funds up to $157.0 million.
 
The Bank also participates in the Federal Reserve discount window borrowings program. At September 30, 2019, the Company had $1.84 billion of loans pledged at the Federal Reserve discount window and had $1.24 billion available for borrowing.