Long-Term Borrowings and Subordinated Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-Term Borrowings, Interest Expense and Weighted Average Interest Rate

The following table represents the balance of long-term borrowings, the weighted average interest rate as of December 31 and interest expense for the years ended December 31:

(dollars in thousand)	2019			2018			2017
Long-term borrowings	$	50,868		$	70,314		$	47,301
Weighted average interest rate	2.60		%	2.84		%	1.88		%
Interest expense	$	1,831		$	1,129		$	463

Schedule of Annual Maturities and Average Interest Rate of Long-Term Debt

Scheduled annual maturities and average interest rates for all of our long-term debt for each of the five years subsequent to December 31, 2019 and thereafter are as follows:

(dollars in thousands)	Balance		Average  Rate
2020	$	27,058	2.91	%
2021	1,115		3.57	%
2022	7,592		2.24	%
2023	464		5.71	%
2024	13,381		1.71	%
Thereafter	1,258		5.83	%
Total	$	50,868	2.61	%

Schedule of Junior Subordinated Debt Securities and Interest Expense

The following table represents the composition of junior subordinated debt securities at December 31 and the interest expense for the years ended December 31:

	2019				2018				2017
(dollars in thousands)	Balance		Interest Expense		Balance		Interest Expense		Balance		Interest Expense
Junior subordinated debt	$	34,753	$	1,059	$	25,000	$	951	$	25,000	$	708
Junior subordinated debt—trust preferred securities	29,524		1,251		20,619		1,149		20,619		955
Total	$	64,277	$	2,310	$	45,619	$	2,100	$	45,619	$	1,663

Schedule of Junior Subordinated Debt Securities

The following table summarizes the key terms of our junior subordinated debt securities:

(dollars in thousands)	2001 Trust Preferred Securities	2005 Trust Preferred Securities	2015 Junior Subordinated Debt	2006 Junior Subordinated Debt	2008 Trust Preferred Securities
Junior Subordinated Debt	$—	$—	$9,750	$25,000	$—
Trust Preferred Securities	5,155	4,124	—	—	20,619
Stated Maturity Date	7/25/2031	5/23/2035	3/6/2025	12/15/2036	3/15/2038
Optional redemption date at par	Any time after 7/25/2011	Any time after 5/23/2010	Quarterly after 4/1/2020	Any time after 9/15/2011	Any time after 3/15/2013
Regulatory Capital	Tier 1	Tier 1	Tier 2	Tier 2	Tier 1
Interest Rate	6 Month LIBOR plus 375 bps	3 Month LIBOR plus 177 bps	fixed at 4.25% until 4/1/2020 then prime plus 100 bps	3 month LIBOR plus 160 bps	3 month LIBOR plus 350 bps
Interest Rate at December 31, 2019	6.00%	3.68%	4.25%	3.49%	5.39%