The following table summarizes Old National’s other borrowings at December 31:

	December 31,
(dollars in thousands)	2019			2018
Old National Bancorp:
Senior unsecured notes (fixed rate 4.125%) maturing August 2024	$	175,000		$	175,000
Unamortized debt issuance costs related to senior unsecured bank notes		(715	)		(870	)
Junior subordinated debentures (variable rates of 3.49% to 5.62%) maturing April 2032 to June 2037		52,310			60,310
Other basis adjustments		(2,833	)		(3,046	)
Old National Bank:
Finance lease liabilities		7,406			5,262
Subordinated debentures (fixed rate 5.75%)		12,000			12,000
Other		517			(773	)
Total other borrowings	$	243,685		$	247,883

Contractual maturities of other borrowings at December 31, 2019 were as follows:

(dollars in thousands)
Due in 2020	$	499
Due in 2021		524
Due in 2022		553
Due in 2023		591
Due in 2024		175,643
Thereafter		68,906
Unamortized debt issuance costs and other basis adjustments		(3,031	)
Total	$	243,685

In August 2014, Old National issued $175.0 million of senior unsecured notes with a 4.125% interest rate. These notes pay interest on February 15 and August 15. The notes mature on August 15, 2024.

Junior subordinated debentures related to trust preferred securities are classified in “other borrowings.” On November 1, 2017, Old National acquired Anchor (MN) and exceeded $15 billion in assets. As a result, these securities can only be treated as Tier 2 capital for regulatory purposes, subject to certain limitations. Prior to the fourth quarter of 2017, these securities qualified as Tier 1 capital for regulatory purposes.

Through various acquisitions, Old National assumed junior subordinated debenture obligations related to various trusts that issued trust preferred securities. Old National guarantees the payment of distributions on the trust preferred securities issued by the trusts. Proceeds from the issuance of each of these securities were used to purchase junior subordinated debentures with the same financial terms as the securities issued by the trusts.

Old National, at any time, may redeem the junior subordinated debentures at par and, thereby cause a redemption of the trust preferred securities in whole or in part. In December 2019, Old National redeemed at par $8.0 million of junior subordinated debentures issued in December 2005 by Tower Financial Corporation, which was acquired by Old National in 2014. This subsequently caused the redemption of all of the common and capital (preferred) securities issued by Tower Capital Trust 2 by the same amount in aggregate. At the time of redemption, the rate on this floating rate instrument was 3.44%.

The following table summarizes the terms of our outstanding junior subordinated debentures as of December 31, 2019:

(dollars in thousands)					Rate at
		Issuance			December 31,
Name of Trust	Issuance Date	Amount		Rate	2019	Maturity Date
VFSC Capital Trust I	April 2002	$	3,093	6-month LIBOR plus 3.70%	5.62%	April 22, 2032
VFSC Capital Trust II	October 2002		4,124	3-month LIBOR plus 3.45%	5.36%	November 7, 2032
VFSC Capital Trust III	April 2004		3,093	3-month LIBOR plus 2.80%	4.71%	September 8, 2034
St. Joseph Capital Trust II	March 2005		5,000	3-month LIBOR plus 1.75%	3.65%	March 17, 2035
Anchor Capital Trust III	August 2005		5,000	3-month LIBOR plus 1.55%	3.49%	September 30, 2035
Home Federal Statutory Trust I	September 2006		15,000	3-month LIBOR plus 1.65%	3.54%	September 15, 2036
Monroe Bancorp Capital Trust I	July 2006		3,000	3-month LIBOR plus 1.60%	3.59%	October 7, 2036
Tower Capital Trust 3	December 2006		9,000	3-month LIBOR plus 1.69%	3.60%	March 1, 2037
Monroe Bancorp Statutory Trust II	March 2007		5,000	3-month LIBOR plus 1.60%	3.49%	June 15, 2037
Total		$	52,310

On November 1, 2017, Old National assumed $12.0 million of subordinated fixed-to-floating notes related to the acquisition of Anchor (MN). The subordinated debentures have a 5.75% fixed rate of interest through October 29, 2020. From October 30, 2020 to the October 30, 2025 maturity date, the debentures have a floating rate of interest equal to the three-month LIBOR rate plus 4.356%.

Old National has long-term finance lease liabilities for certain banking centers totaling $7.4 million. The economic substance of these leases is that Old National is financing the acquisition of the building through the lease and accordingly, the building is recorded as a right-of-use asset in premises and equipment and the lease is recorded as a liability in other borrowings. The right-of-use assets and lease liabilities are initially measured at the present value of the lease payments over the lease term using Old National’s incremental borrowing rate based on the information available at the commencement date of the lease. See Note 8 to the consolidated financial statements for a maturity analysis of the Company’s finance lease liabilities.