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Subordinated Notes (Tables)
12 Months Ended
Dec. 31, 2020
Subordinated Debt [Abstract]  
Schedule of Long-term Debt Instruments
The following tables detail the subordinated notes, including debt issuance costs, as of December 31, 2020 and 2019:
 December 31, 2020December 31, 2019
(dollars in thousands)Balance
Rate(1)(2)
Balance
Rate(1)(2)
Subordinated notes – due 2027$69,133 4.25 %$69,009 4.25 %
Subordinated notes – due 202529,750 3.29 %29,696 4.75 %
Total subordinated notes$98,883 $98,705 

(1) The 2027 Notes bear interest at an annual fixed rate of 4.25% from the date of issuance until and including December 14, 2022, and will thereafter bear interest at a variable rate that will reset quarterly to a level equal to the then-current three-month LIBOR rate plus 2.050% until December 15, 2027, or any early redemption date.

(2) The 2025 Notes were bearing interest at an annual fixed rate of 4.75% from the date of issuance until and including August 14, 2020, and thereafter bear interest at a variable rate that will reset quarterly to a level equal to the then-current three-month LIBOR rate plus 3.068% until August 15, 2025, or any early redemption date.