Borrowings (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Schedule of Debt

The following tables present information regarding the Company’s outstanding borrowings at September 30, 2023 and December 31, 2022 (dollars in thousands):

Description	Due date	Call Feature	Balance at September 30, 2023		Interest Rate
FHLB Principal Reducing Credit	12/22/2023	None	$	880	1.25% fixed
FHLB Principal Reducing Credit	6/26/2028	None	206		0.25% fixed
FHLB Principal Reducing Credit	7/17/2028	None	33		0.00% fixed
FHLB Principal Reducing Credit	8/18/2028	None	153		1.00% fixed
FHLB Principal Reducing Credit	8/22/2028	None	153		1.00% fixed
FHLB Principal Reducing Credit	12/20/2028	None	319		0.50% fixed
FHLB Fixed Rate Credit	10/13/2023	None	100,000		5.46% fixed
FHLB Fixed Rate Credit	10/20/2023	None	25,000		5.46% fixed
FHLB Fixed Rate Credit	10/30/2023	None	50,000		5.48% fixed
FHLB Fixed Rate Credit	11/13/2023	None	100,000		5.50% fixed
FHLB Daily Rate Credit	9/16/2024	None	25,000		5.57% fixed
Trust Preferred Securities	1/23/2034	Quarterly by Company beginning 1/23/2009	10,310		8.28% at 9/30/23 adjustable rate 3 month CME Term SOFR+ 2.91%
Trust Preferred Securities	1/23/2034	Quarterly by Company beginning 1/23/2009	10,310		8.38% at 9/30/23 adjustable rate  3 month CME Term SOFR + 3.01%
Trust Preferred Securities	9/20/2034	Quarterly by Company beginning 9/20/2009	12,372		7.81% at 9/30/23 adjustable rate 3 month CME Term SOFR + 2.41%
Trust Preferred Securities	1/7/2035	Quarterly by Company beginning 1/7/2010	10,310		7.57% at 9/30/23 adjustable rate 3 month CME Term SOFR + 2.00%
Trust Preferred Securities	6/15/2036	Quarterly by Company beginning 6/15/2011	25,774		7.06% at 9/30/23 adjustable rate 3 month CME Term SOFR + 1.65%
Trust Preferred Securities	6/23/2036	Quarterly by the Company beginning 6/23/2011	8,248		7.51% at 9/30/23 adjustable rate 3 month CME Term SOFR + 2.11%
Subordinated Debentures	11/30/2028	Continuous by Company beginning 11/30/2023	10,000		6.50% fixed
Subordinated Debentures	11/15/2030	Continuous by Company beginning 11/15/2025	18,000		4.38% fixed
Total borrowings / weighted average rate as of September 30, 2023			407,068		5.85%
Unamortized discount on acquired borrowings			(5,225)
Total borrowings			$	401,843

Description	Due date	Call Feature	Balance at December 31, 2022		Interest Rate
FHLB Principal Reducing Credit	7/24/2023	None	$	32	1.00% fixed
FHLB Principal Reducing Credit	12/22/2023	None	912		1.25% fixed
FHLB Principal Reducing Credit	6/26/2028	None	214		0.25% fixed
FHLB Principal Reducing Credit	7/17/2028	None	38		0.00% fixed
FHLB Principal Reducing Credit	8/18/2028	None	158		1.00% fixed
FHLB Principal Reducing Credit	8/22/2028	None	159		1.00% fixed
FHLB Principal Reducing Credit	12/20/2028	None	329		0.50% fixed
FHLB Daily Rate Credit	8/23/2023	None	40,000		4.57% fixed
FHLB Fixed Rate Credit	1/9/2023	None	50,000		4.15% fixed
FHLB Fixed Rate Credit	2/1/2023	None	80,000		4.25% fixed
FHLB Fixed Rate Credit	2/9/2023	None	50,000		4.35% fixed
Trust Preferred Securities	1/23/2034	Quarterly by Company beginning 1/23/2009	10,310		7.06% at 12/31/22 adjustable rate 3 month LIBOR + 2.65%
Trust Preferred Securities	1/23/2034	Quarterly by Company beginning 1/23/2009	10,310		7.16% at 12/31/22 adjustable rate 3 month LIBOR + 2.75%
Trust Preferred Securities	6/15/2036	Quarterly by Company beginning 6/15/2011	25,774		6.16% at 12/31/22 adjustable rate 3 month LIBOR + 1.39%
Trust Preferred Securities	9/20/2034	Quarterly by Company beginning 9/20/2009	12,372		6.90% at 12/31/22 adjustable rate 3 month LIBOR + 2.15%
Trust Preferred Securities	1/7/2035	Quarterly by Company beginning 1/7/2010	10,310		6.08% at 12/31/22 adjustable rate 3 month LIBOR + 2.00%
Total borrowings / weighted average rate as of December 31, 2022			290,918		4.82%
Unamortized discount on acquired borrowings			(3,411)
Total borrowings			$	287,507