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Other Borrowings (Tables)
 12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Other Borrowings
Other borrowings, which Heartland defines as borrowings with an original maturity date of more than one year, outstanding at December 31, 2019 and 2018, are shown in the table below, net of discount and issuance costs amortization, in thousands:
 20192018
Advances from the FHLB; weighted average interest rates were 4.08% and 4.03% at December 31, 2019 and 2018, respectively
$2,835  $3,399  
Trust preferred securities145,343  130,913  
Senior notes—  5,000  
Note payable to unaffiliated bank51,417  58,417  
Contracts payable for purchase of real estate and other assets1,892  1,953  
Subordinated notes74,286  74,143  
Other borrowings—  1,080  
Total$275,773  $274,905  
Schedule of Trust Preferred Offerings Outstanding A schedule of Heartland’s trust preferred offerings outstanding, as of December 31, 2019, were as follows, in thousands:
Amount
Issued
Interest
Rate
Interest Rate as
of 12/31/19(1)
Maturity
Date
Callable
Date
Heartland Financial Statutory Trust IV$10,310  
2.75% over LIBOR
4.65%  
(2)
03/17/203403/17/2020
Heartland Financial Statutory Trust V20,619  
1.33% over LIBOR
3.32  
(3)
04/07/203604/07/2020
Heartland Financial Statutory Trust VI20,619  
1.48% over LIBOR
3.37  
(4)
09/15/203703/15/2020
Heartland Financial Statutory Trust VII18,042  
1.48% over LIBOR
3.39  
(5)
09/01/203703/01/2020
Morrill Statutory Trust I9,088  
3.25% over LIBOR
5.20  12/26/203203/26/2020
Morrill Statutory Trust II8,754  
2.85% over LIBOR
4.75  12/17/203303/17/2020
Sheboygan Statutory Trust I 6,528  
2.95% over LIBOR
4.85  09/17/203303/17/2020
CBNM Capital Trust I4,409  
3.25% over LIBOR
5.14  12/15/203403/15/2020
Citywide Capital Trust III6,438  
2.80% over LIBOR
4.74  12/19/203304/23/2020
Citywide Capital Trust IV4,296  
2.20% over LIBOR
4.11  09/30/203405/23/2020
Citywide Capital Trust V11,748  
1.54% over LIBOR
3.43  07/25/203603/15/2020
OCGI Statutory Trust III2,996  
3.65% over LIBOR
5.48  
(6)
09/30/203203/30/2020
OCGI Capital Trust IV5,342  
2.50% over LIBOR
4.39  
(7)
12/15/203403/15/2020
BVBC Capital Trust II7,197  
3.25% over LIBOR
5.16  04/24/203304/24/2020
BVBC Capital Trust III9,047  
1.60% over LIBOR
3.54  09/30/203503/30/2020
Total trust preferred offerings145,433  
Less: deferred issuance costs(90) 
 $145,343      
(1) Effective weighted average interest rate as of December 31, 2019, was 4.80% due to interest rate swap transactions as discussed in Note 12 to Heartland's consolidated financial statements.
(2) Effective interest rate as of December 31, 2019, was 5.01% due to an interest rate swap transaction as discussed in Note 12 to Heartland's consolidated financial statements.
(3) Effective interest rate as of December 31, 2019, was 4.69% due to an interest rate swap transaction as discussed in Note 12 to Heartland's consolidated financial statements.
(4) Effective interest rate as of December 31, 2019, was 3.87% due to an interest rate swap transaction as discussed in Note 12 to Heartland's consolidated financial statements.
(5) Effective interest rate as of December 31, 2019, was 3.83% due to an interest rate swap transaction as discussed in Note 12 to Heartland's consolidated financial statements.
(6) Effective interest rate as of December 31, 2019, was 5.53% due to an interest rate swap transaction as discussed in Note 12 to Heartland's consolidated financial statements.
(7) Effective interest rate as of December 31, 2019, was 4.37% due to an interest rate swap transaction as discussed in Note 12 to Heartland's consolidated financial statements.
Schedule of Future Payments of Other Borrowings
Future payments at December 31, 2019, for other borrowings follow in the table below, in thousands. FHLB advances, wholesale repurchase agreements, convertible debt and subordinated debt are included in the table at their call date.
2020$8,705  
202124,682  
20224,657  
20233,037  
202477,437  
Thereafter157,255  
Total$275,773