Long-Term Debt

3 Months Ended

Mar. 31, 2021

Long-Term Debt.

Long-Term Debt

NOTE 9 Long-Term Debt

Long-term debt as of March 31, 2021 and December 31, 2020 consisted of the following:

	March 31, 2021
						Period End
	Face		Carrying			Interest		Maturity
(dollars in thousands)	Value		Value		Interest Rate	Rate		Date	Call Date
Subordinated notes payable	$	50,000	$	50,000	Fixed	3.50	%	3/30/2031	3/31/2026
Junior subordinated debenture (Trust I)		4,124		3,458	Three-month LIBOR + 3.10%	3.30	%	6/26/2033	6/26/2008
Junior subordinated debenture (Trust II)		6,186		5,187	Three-month LIBOR + 1.80%	1.98	%	9/15/2036	9/15/2011
Finance lease liability		2,700		375	Fixed	7.81	%	10/31/2022	N/A
Total long-term debt	$	63,010	$	59,020

	December 31, 2020
						Period End
	Face		Carrying			Interest		Maturity
(dollars in thousands)	Value		Value		Interest Rate	Rate		Date	Call Date
Subordinated notes payable	$	50,000	$	49,688	Three-month LIBOR + 4.12%	4.36	%	12/30/2025	12/30/2020
Junior subordinated debenture (Trust I)		4,124		3,447	Three-month LIBOR + 3.10%	3.35	%	6/26/2033	6/26/2008
Junior subordinated debenture (Trust II)		6,186		5,170	Three-month LIBOR + 1.80%	2.02	%	9/15/2036	9/15/2011
Finance lease liability		2,700		430	Fixed	7.81	%	10/31/2022	N/A
Total long-term debt	$	63,010	$	58,735