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Long-term Debt (Tables)
9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Schedule of long-term debt
Long-term debt consisted of the following (in thousands):
September 30,
2020
December 31, 2019Issue
Date
Stated
Maturity
Date
Earliest
Call
Date
Interest Rate
Obligations of the Bank and its Subsidiaries:
2026 subordinated debentures$15,000 $— 201620262021
5.875% through August 2021, 3-month LIBOR plus 4.70% thereafter
$15,000 $— 
Obligations of the Holding Company:
2022 senior debentures$50,000 $50,000 201520222020
5.000% through August 13, 2020, 3-month LIBOR plus 3.814% thereafter
2027 senior debentures35,000 35,000 201520272025
5.500% through August 13, 2025, 3-month LIBOR plus 3.71% thereafter
2030 senior debentures100,000 — 202020302025
5.00% through June 15, 2025, 3-month SOFR plus 4.87% thereafter
Total senior debentures185,000 85,000 
2028 subordinated debentures100,000 100,000 201820282023
4.500% through January 30, 2023, 3-month LIBOR plus 2.12% thereafter
2025 subordinated debentures11,250 11,250 201520252020
6.250%
Total subordinated debentures111,250 111,250 
Southern Bancorp Capital Trust I4,382 4,382 200420342009
Prime plus 1.00%
Tidelands Statutory Trust I8,248 8,248 200620362011
3-month LIBOR plus 1.38%
Four Oaks Statutory Trust I12,372 12,372 200620362011
3-month LIBOR plus 1.35%
Total trust preferred securities25,002 25,002 
Less discount(9,549)(8,588)
Total long-term debt$326,703 $212,664