Other Borrowings (Tables)

12 Months Ended

Dec. 31, 2023

Other Borrowings.

Schedule of other borrowings

				2023								2022
								Weighted								Weighted
		Interest						Average		Interest						Average
		Rate at				Average		Interest		Rate at				Average		Interest
(Dollars in thousands)	Maturity	12/31/2023		Balance		Balance		Rate(5)		12/31/2022		Balance		Balance		Rate(5)
Short-term borrowings:
FHLB Advances	Various	5.57	%	$	100,000					—	%	$	—
FRB Borrowings	Various	—	%		—					—	%		—
US Bank Line of Credit	Daily	—	%		—					—	%		—
Total short-term borrowings		—	%	$	100,000	$	243,014	5.08	%	—	%	$	—	$	10,959	5.22	%
Long-term borrowings
SCBT Capital Trust I junior subordinated debt(1)	6/15/2035	7.44	%	$	12,372					6.56	%	$	12,372
SCBT Capital Trust II junior subordinated debt(1)	6/15/2035	7.44	%		8,248					6.56	%		8,248
SCBT Capital Trust III junior subordinated debt(1)	7/18/2035	7.24	%		20,619					6.36	%		20,619
SAVB Capital Trust I junior subordinated debt(1)	10/7/2033	8.51	%		6,186					6.93	%		6,186
SAVB Capital Trust II junior subordinated debt(1)	12/15/2034	7.85	%		4,124					6.97	%		4,124
TSB Statutory Trust I junior subordinated debt(1)	3/14/2037	7.37	%		3,093					6.49	%		3,093
Southeastern Bank Financial Statutory Trust I junior subordinated debt(1)	12/15/2035	7.05	%		10,310					6.17	%		10,310
Southeastern Bank Financial Statutory Trust II junior subordinated debt(1)	6/15/2036	7.05	%		10,310					6.17	%		10,310
CSBC Statutory Trust I junior subordinated debt(1)	12/15/2035	7.22	%		15,464					6.34	%		15,464
Community Capital Statutory Trust I junior subordinated debt(1)	6/15/2036	7.20	%		10,310					6.32	%		10,310
FCRV Statutory Trust I junior subordinated debt(1)	12/15/2036	7.35	%		5,155					6.47	%		5,155
Provident Community Bancshares Capital Trust I junior subordinated debt(1)	3/1/2037	7.40	%		4,124					5.48	%		4,124
Provident Community Bancshares Capital Trust II junior subordinated debt(1)	10/1/2036	7.38	%		8,248					6.50	%		8,248
Fair Market Value Discount Trust Preferred Debt Acquired					(926)								(1,162)
Total Junior Subordinated Debt		7.34	%	$	117,637	$	117,514	7.05	%	6.39	%	$	117,401	$	117,277	3.49	%
Landmark Bancshares subordinated debt(2)	6/30/2027	—	%	$	—					—	%	$	—
CenterState Bank Corporation subordinated debt(3)	6/1/2030	5.75	%		200,000					5.75	%		200,000
Atlantic Capital Bancshares, Inc. subordinated debt(4)	9/1/2030	5.50	%		75,000					5.50	%		75,000
Fair Market Value Premium subordinated debt acquired					1,627								2,604
Long-term subordinated debt costs					(2,360)								(2,730)
Total Subordinated Debt		5.68	%	$	274,267	$	274,585	5.68	%	5.68	%	$	274,874	$	268,877	5.70	%
Total long-term borrowings		6.18	%	$	391,904	$	392,099	6.09	%	5.89	%	$	392,275	$	386,154	5.03	%
Total borrowings		6.06	%	$	491,904	$	635,113	5.71	%	5.89	%	$	392,275	$	397,113	5.03	%

(1) All of the junior subordinated debt above is adjustable rate based on three-month CME SOFR plus a spread adjustment with the transition from LIBOR of 0.26161% plus a spread ranging from 140 basis points to 285 basis points. All of the Company's junior subordinated debt transitioned to SOFR from LIBOR for repricing dates after June 30, 2023.

(2) The Notes bored interest at a fixed rate of 6.5% per year, to, but excluding, June 30, 2022. On June 30, 2022, the Notes would have converted to a floating rate equal to three-month LIBOR plus 467 basis points. The Notes were redeemed by the Company on June 30, 2022.

(3) The $200 million in Notes bear interest at a fixed rate of 5.75% per year to, but excluding, June 1, 2025. On June 1, 2025, the Notes convert to a floating rate equal to SOFR plus 562 basis points. The Notes may be redeemed by the Company after June 1, 2025. The balance in the table above is net of debt issuance costs.

(4) The Notes bear interest at a fixed rate of 5.50% per year to, but excluding, September 1, 2025. On September 1, 2025, the Notes convert to a floating rate equal to three-month LIBOR plus 536 basis points. The Notes may be redeemed by the Company on or after September 1, 2025. These notes were acquired in the ACBI acquisition on March 1, 2022 and are net of the fair value discount noted in the table above.

(5) The weighted average interest rate calculation does not include the effects of fair value marks and debt issuance costs.

Summary of principal maturities of other borrowings, net of unamortized discount or debt issuance costs

	Junior
	Subordinated		FHLB		Subordinated
(Dollars in thousands)	Debt		Advances		Debt		Total
Year Ended December 31,
2024	$	—	$	100,000	$	—	$	100,000
2025		—		—		—		—
2026		—		—		—		—
2027		—		—		—		—
2028		—		—		—		—
Thereafter		117,637		—		274,267		391,904
	$	117,637	$	100,000	$	274,267	$	491,904