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Long-Term Debt and Other Borrowed Funds
12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Long-Term Debt and Other Borrowed Funds
LONG-TERM DEBT AND OTHER BORROWED FUNDS
    
A summary of long-term debt follows:
December 31,
2018
 
2017
Subsidiaries:
 
 
 
8.00% capital lease obligation with term ending October 25, 2029
1.3

 
1.4

6.24% note payable maturing September 6, 2032, principal due at maturity, interest payable monthly
1.8

 
1.6

2.28% note payable maturing July 29, 2022, principal due at maturity, interest payable monthly
5.0

 
5.0

1.00% note payable maturing December 31, 2041, interest only payable quarterly until December 31, 2025 and then principal and interest until maturity
5.1

 
5.1

Note payable maturing March 31, 2038, interest only payable at 1.30% monthly until March 31, 2025 and then principal and interest at 3.25% until maturity
2.0

 

1.30% note payable maturing June 1, 2034, interest only payable monthly until March 31, 2025 and then principal and interest until maturity
0.6

 

Total long-term debt
$
15.8

 
$
13.1


    
Maturities of long-term debt at December 31, 2018 are as follows:
 
 
 
2019
 
 
$
0.1

2020
 
 
0.1

2021
 
 
0.1

2022
 
 
5.1

2023
 
 
0.1

Thereafter
 
 
10.3

Total
 
 
$
15.8



The Company has available lines of credit with the FHLB of approximately $1,399.0 million, subject to collateral availability. As of December 31, 2018 and 2017, there were no long or short-term advances outstanding with the FHLB.

The Company has a capital lease obligation on a banking office. Assets acquired under capital lease, consisting solely of a building and leasehold improvements, are included in premises and equipment and are subject to depreciation.

The Company borrowed or assumed through acquisitions $14.4 million and $11.7 million as of December 31, 2018 and 2017, respectively, related to New Market Tax Credits. The long-term debt obligations consists of fixed rate note payables with various interest rates from 1.00% to 6.24% and maturities from July 29, 2022 through March 31, 2038, collateralized by the Company’s equity interest in various CDEs, which are 99.9% owned by the Company.

The Company had no material other borrowed funds as of December 31, 2018. As of December 31, 2017, the Company had other borrowed funds of $20.0 million, primarily consisting of a fixed rate subordinated term loan which was redeemed during the first quarter of 2018.
    
The Company has federal funds lines of credit with third parties amounting to $205.0 million, subject to funds availability. These lines are subject to cancellation without notice. The Company also has a line of credit with the Federal Reserve Bank for borrowings up to $461.7 million secured by a blanket pledge of indirect consumer loans, and has an unused $50.0 million revolving line of credit with U.S. Bank National Association.