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Federal Home Loan Bank Advances and Long-Term Debt (Tables) | 12 Months Ended
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Dec. 31, 2022
FEDERAL HOME LOAN BANK ADVANCES AND LONG-TERM DEBT |
Schedule Of FHLB and Long-Term Debt | The following table presents the balance of the Company’s junior subordinated debt and FHLB advances as of December 31, 2022 and 2021, and the related contractual rates and maturity dates as of December 31, 2022:
($ in thousands) |  |  |  | Interest Rate |  | Maturity Dates |  | December 31,
|  |  |  |  | 2022 |  | 2021
|  |  |  |  | Amount |  | Amount
Parent company |  |  |  |  |  |  |  |  |  |
Junior subordinated debt (1 ) — floating (2) |  |  |  | 6.12% — 6.67% |  | 2034 — 2037 |  | $ | 147,950 |  |  | $ | 147,658 |
Bank |  |  |  |  |  |  |  |  |  |
FHLB advances (3 )— floating (2) |  |  |  | —% |  | 2022 |  | $ | — |  |  | $ | 249,331 |
(1)The weighted-average contractual interest rates for junior subordinated debt were 3.49% and 1.74% as of December 31, 2022 and 2021, respectively. (2)Floating interest rates reset monthly or quarterly based on London Interbank Offered Rate (“LIBOR”). (3)The weighted-average contractual interest rates for FHLB advances were 1.89% and 1.17% as of December 31, 2022 and 2021, respectively.
Schedule of the Components of Long-Term Debt | The following table presents the outstanding junior subordinated debt issued by each trust as of December 31, 2022, and 2021:
Issuer |  | Stated Maturity (1) |  | Stated Interest Rate |  | Current Rate |  | December 31, 2022 |  | December 31, 2021
|  |  |  | Aggregate Principal Amount of Trust Securities |  | Aggregate Principal Amount of the Junior Subordinated Debt |  | Aggregate Principal Amount of Trust Securities |  | Aggregate Principal Amount of the Junior Subordinated Debt
($ in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |
East West Capital Trust V |  | November 2034 |  | 3-month LIBOR + 1.80% |  | 6.49% |  | $ | 464 |  |  | $ | 15,000 |  |  | $ | 464 |  |  | $ | 15,000 |
East West Capital Trust VI |  | September 2035 |  | 3-month LIBOR + 1.50% |  | 6.27% |  | 619 |  |  | 20,000 |  |  | 619 |  |  | 20,000 |
East West Capital Trust VII |  | June 2036 |  | 3-month LIBOR + 1.35% |  | 6.12% |  | 928 |  |  | 30,000 |  |  | 928 |  |  | 30,000 |
East West Capital Trust VIII |  | June 2037 |  | 3-month LIBOR + 1.40% |  | 6.13% |  | 619 |  |  | 18,000 |  |  | 619 |  |  | 18,000 |
East West Capital Trust IX |  | September 2037 |  | 3-month LIBOR + 1.90% |  | 6.67% |  | 928 |  |  | 30,000 |  |  | 928 |  |  | 30,000 |
MCBI Statutory Trust I |  | December 2035 |  | 3-month LIBOR + 1.55% |  | 6.32% |  | 1,083 |  |  | 35,000 |  |  | 1,083 |  |  | 35,000 |
Total |  |  |  |  |  |  |  | $ | 4,641 |  |  | $ | 148,000 |  |  | $ | 4,641 |  |  | $ | 148,000 |
(1)The debt instruments above mature in more than five years after December 31, 2022 and are subject to call options where early redemption requires appropriate notice.

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