Note 9. Long-Term Debt

As of December 31, 2018 and 2017, long-term debt was comprised of the following:



	December 31,
(in thousands)	2018		2017
Subordinated notes payable, maturing June 2045	$	150,000	$	150,000
Term note payable, maturing December 2018		—		89,200
Other long-term debt		79,598		71,378
Less: unamortized debt issuance costs		(4,605)		(5,065)
Total long-term debt	$	224,993	$	305,513

The following table sets forth unamortized debt issuance costs associated with the respective debt instruments as of December 31, 2018:


				Unamortized
				Debt
				Issuance
(in thousands)		Principal		Costs
Subordinated notes payable, maturing June 2045	$	150,000	$	4,605
Other long-term debt		79,598		—
Total	$	229,598	$	4,605

On March 9, 2015, the Company completed the issuance of subordinated notes payable with an aggregate principal amount of $150 million, maturing on June 15, 2045. These notes accrue interest at a fixed rate of 5.95% per annum, with quarterly interest payments which began in June 2015. Subject to prior approval by the Federal Reserve, the Company may redeem the notes in whole or in part on any interest payment date on or after June 15, 2020. This debt qualifies as tier 2 capital in the calculation of certain regulatory capital ratios.

On December 18, 2015, the Company entered into a senior unsecured single-draw term loan facility totaling $125 million, which was drawn on the closing date. Amounts borrowed under the loan facility bore variable rate interest of LIBOR plus 1.50% per annum. The loan agreement required quarterly principal payments of $4.5 million, and allowed outstanding borrowings to be repaid in whole or in part at any time prior to the December 18, 2018 maturity date without premium or penalty, subject to reimbursement of certain lenders’ costs. The Company paid down a portion of the debt during the second quarter of 2018, and repaid the remaining principal balance during the third quarter 2018.

Substantially all of the Company’s other long-term debt consists of borrowings associated with tax credit fund activities. Although these borrowings have indicated maturities through 2053, each is expected to be satisfied at the end of the seven-year compliance period for the related tax credit investments.