XML 59 R43.htm IDEA: XBRL DOCUMENT v3.24.0.1
OTHER BORROWINGS (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Other Borrowings
Other borrowings consist of the following:
December 31,
(dollars in thousands)20232022
FHLB borrowings:
Fixed Rate Advance due January 9, 2023; fixed interest rate of 4.150%
$— $300,000 
Fixed Rate Advance due January 9, 2023; fixed interest rate of 4.110%
— 50,000 
Fixed Rate Advance due January 12, 2023; fixed interest rate of 4.140%
— 50,000 
Fixed Rate Advance due January 13, 2023; fixed interest rate of 4.150%
— 50,000 
Fixed Rate Advance due January 17, 2023; fixed interest rate of 4.170%
— 350,000 
Fixed Rate Advance due January 17, 2023; fixed interest rate of 4.250%
— 150,000 
Fixed Rate Advance due January 18, 2023; fixed interest rate of 4.260%
— 200,000 
Fixed Rate Advance due January 19, 2023; fixed interest rate of 4.230%
— 50,000 
Fixed Rate Advance due January 20, 2023; fixed interest rate of 4.220%
— 150,000 
Fixed Rate Advance due January 27, 2023; fixed interest rate of 4.230%
— 100,000 
Fixed Rate Advance due January 10, 2024; fixed interest rate of 5.450%
50,000 — 
Fixed Rate Advance due January 17, 2024; fixed interest rate of 5.460%
100,000 — 
Fixed Rate Advance due March 3, 2025; fixed interest rate of 1.208%
15,000 15,000 
Fixed Rate Advance due March 2, 2027; fixed interest rate of 1.445%
15,000 15,000 
Fixed Rate Advance due March 4, 2030; fixed interest rate of 1.606%
15,000 15,000 
Fixed Rate Advance due December 9, 2030; fixed interest rate of 4.550%
1,378 1,389 
Fixed Rate Advance due December 9, 2030; fixed interest rate of 4.550%
954 961 
Principal Reducing Advance due September 29, 2031; fixed interest rate of 3.095%
1,128 1,275 
Subordinated notes payable:
Subordinated notes payable due March 15, 2027 net of unamortized debt issuance cost of $0 and $551, respectively; fixed interest rate of 5.75% through March 14, 2022; variable interest rate thereafter at three-month LIBOR plus 3.616% (2027 subordinated notes)
— 74,449 
Subordinated notes payable due December 15, 2029 net of unamortized debt issuance cost of $1,296 and $1,680, respectively; fixed interest rate of 4.25% through December 14, 2024; variable interest rate thereafter at three-month SOFR plus 2.94% (2029 subordinated notes)
106,704 118,320 
Subordinated notes payable due May 31, 2030 net of unaccreted purchase accounting fair value adjustment of $784 and $906, respectively; fixed interest rate of 5.875% through May 31, 2025; variable interest rate thereafter at three-month SOFR plus 3.63% (Bank subordinated notes) (1)
75,784 75,906 
Subordinated notes payable due October 1, 2030 net of unamortized debt issuance cost of $1,362 and $1,564, respectively; fixed interest rate of 3.875% through September 30, 2025; variable interest rate thereafter at three-month SOFR plus 3.753% (2030 subordinated notes)
108,638 108,436 
Other Debt:
Advance from correspondent bank due November 28, 2024; secured by a loan receivable; variable interest rate at one-month SOFR plus 2.50%
10,000 — 
Advance from correspondent bank due December 1, 2025; secured by a loan receivable; variable interest rate at one-month SOFR plus 2.65%
10,000 — 
$509,586 $1,875,736 
(1) Previously was to migrate to three-month LIBOR plus 3.63%, but will now migrate to three-month SOFR plus a comparable tenor spread beginning June 1, 2025 through the end of the term, as three-month LIBOR ceased to be published effective July 1, 2023.