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v3.20.4

Other Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2020
Other Borrowings. |
Schedule of other borrowings | The Company’s other borrowings were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | 2020 | ​ | ​ | ​ | 2019 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted | ​
​ | ​ | ​ | ​ | Interest | ​ | ​ | ​ | ​ | ​ | ​ | Average | ​ | Interest | ​ | ​ | ​ | ​ | ​ | ​ | Average | ​
​ | ​ | ​ | ​ | Rate at | ​ | ​ | ​ | Average | ​ | Interest | ​ | Rate at | ​ | ​ | ​ | Average | ​ | Interest | ​
(Dollars in thousands) |  | Maturity |  | 12/31/2020 |  | Balance | ​ | Balance |  | Rate |  | 12/31/2019 |  | Balance | ​ | Balance |  | Rate | ​
Short-term borrowings: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal Home Loan Bank Fixed Rate Credit | ​ | 3/4/2020 | ​ | — | % | $ | — | ​ | ​ | ​ | ​ | ​ | ​ | 1.75 | % | $ | 200,000 | ​ | ​ | ​ | ​ | ​ | ​
Federal Home Loan Bank Fixed Rate Credit | ​ | 3/19/2020 | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​ | 1.73 | % | ​ | 350,000 | ​ | ​ | ​ | ​ | ​ | ​
Federal Home Loan Bank Fixed Rate Credit | ​ | 3/30/2020 | ​ | — | % |  | — | ​ | ​ | ​ | ​ | ​ | ​ | 1.72 | % |  | 150,000 | ​ | ​ | ​ | ​ | ​ | ​
Total short-term borrowings | ​ | ​ | ​ | — | % | ​ | — | ​ | $ | 745,939 | ​ | 0.63 | % | 1.73 | % | ​ | 700,000 | ​ | $ | 538,627 | ​ | 2.35 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Long-term borrowings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
SCBT Capital Trust I junior subordinated debt(1) | ​ | 6/15/2035 | ​ | 2.01 | % |  | 12,372 | ​ | ​ | ​ | ​ | ​ | ​ | 3.68 | % |  | 12,372 | ​ | ​ | ​ | ​ | ​ | ​
SCBT Capital Trust II junior subordinated debt(1) | ​ | 6/15/2035 | ​ | 2.01 | % |  | 8,248 | ​ | ​ | ​ | ​ | ​ | ​ | 3.68 | % |  | 8,248 | ​ | ​ | ​ | ​ | ​ | ​
SCBT Capital Trust III junior subordinated debt(1) | ​ | 7/18/2035 | ​ | 1.81 | % | ​ | 20,619 | ​ | ​ | ​ | ​ | ​ | ​ | 3.48 | % | ​ | 20,619 | ​ | ​ | ​ | ​ | ​ | ​
SAVB Capital Trust I junior subordinated debt(1) | ​ | 10/7/2033 | ​ | 3.09 | % |  | 6,186 | ​ | ​ | ​ | ​ | ​ | ​ | 4.84 | % |  | 6,186 | ​ | ​ | ​ | ​ | ​ | ​
SAVB Capital Trust II junior subordinated debt(1) | ​ | 12/15/2034 | ​ | 2.42 | % |  | 4,124 | ​ | ​ | ​ | ​ | ​ | ​ | 4.09 | % |  | 4,124 | ​ | ​ | ​ | ​ | ​ | ​
TSB Statutory Trust I junior subordinated debt(1) | ​ | 3/14/2037 | ​ | 1.94 | % |  | 3,093 | ​ | ​ | ​ | ​ | ​ | ​ | 3.61 | % |  | 3,093 | ​ | ​ | ​ | ​ | ​ | ​
Southeastern Bank Financial Statutory Trust I junior subordinated debt(1) | ​ | 12/15/2035 | ​ | 1.62 | % |  | 10,310 | ​ | ​ | ​ | ​ | ​ | ​ | 3.29 | % |  | 10,310 | ​ | ​ | ​ | ​ | ​ | ​
Southeastern Bank Financial Statutory Trust II junior subordinated debt(1) | ​ | 6/15/2036 | ​ | 1.62 | % |  | 10,310 | ​ | ​ | ​ | ​ | ​ | ​ | 3.29 | % |  | 10,310 | ​ | ​ | ​ | ​ | ​ | ​
CSBC Statutory Trust I junior subordinated debt(1) | ​ | 12/15/2035 | ​ | 1.79 | % |  | 15,464 | ​ | ​ | ​ | ​ | ​ | ​ | 3.46 | % |  | 15,464 | ​ | ​ | ​ | ​ | ​ | ​
Community Capital Statutory Trust I junior subordinated debt(1) | ​ | 6/15/2036 | ​ | 1.77 | % |  | 10,310 | ​ | ​ | ​ | ​ | ​ | ​ | 3.44 | % |  | 10,310 | ​ | ​ | ​ | ​ | ​ | ​
FCRV Statutory Trust I junior subordinated debt(1) | ​ | 12/15/2036 | ​ | 1.92 | % |  | 5,155 | ​ | ​ | ​ | ​ | ​ | ​ | 3.59 | % |  | 5,155 | ​ | ​ | ​ | ​ | ​ | ​
Provident Community Bancshares Capital Trust I junior subordinated debt(1) | ​ | 3/1/2037 | ​ | 1.97 | % |  | 4,124 | ​ | ​ | ​ | ​ | ​ | ​ | 3.84 | % |  | 4,124 | ​ | ​ | ​ | ​ | ​ | ​
Provident Community Bancshares Capital Trust II junior subordinated debt(1) | ​ | 10/1/2036 | ​ | 1.97 | % |  | 8,248 | ​ | ​ | ​ | ​ | ​ | ​ | 3.65 | % |  | 8,248 | ​ | ​ | ​ | ​ | ​ | ​
CenterState Banks of Florida Statutory Trust I junior subordinated debt(1) | ​ | 9/22/2033 | ​ | 3.30 | % | ​ | 10,310 | ​ | ​ | ​ | ​ | ​ | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
Valrico Capital Statutory Trust junior subordinated debt(1) | ​ | 9/8/2034 | ​ | 2.93 | % | ​ | 2,577 | ​ | ​ | ​ | ​ | ​ | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
Federal Trust Statutory Trust I junior subordinated debt(1) | ​ | 9/17/2033 | ​ | 3.18 | % | ​ | 5,155 | ​ | ​ | ​ | ​ | ​ | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
Gulfstream Bancshares Capital Trust II junior subordinated debt(1) | ​ | 3/6/2037 | ​ | 1.93 | % | ​ | 3,093 | ​ | ​ | ​ | ​ | ​ | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
Homestead Statutory Trust I junior subordinated debt(1) | ​ | 10/1/2036 | ​ | 1.88 | % | ​ | 10,495 | ​ | ​ | ​ | ​ | ​ | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
BSA Financial Statutory Trust I junior subordinated debt(1) | ​ | 12/15/2035 | ​ | 1.77 | % | ​ | 5,155 | ​ | ​ | ​ | ​ | ​ | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
MRCB Statutory Trust II junior subordinated debt(1) | ​ | 9/15/2036 | ​ | 1.82 | % | ​ | 3,093 | ​ | ​ | ​ | ​ | ​ | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
Fair Market Value Discount Trust Preferred Debt Acquired | ​ | ​ | ​ | ​ | ​ | ​ | (14,116) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (2,730) | ​ | ​ | ​ | ​ | ​ | ​
Total Junior Subordinated Debt | ​ | ​ | ​ | 2.05 | % | ​ | 144,325 | ​ | ​ | 131,817 | ​ | 2.51 | % | 3.60 | % | ​ | 115,833 | ​ | ​ | 115,490 | ​ | 4.20 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential Warranty Corp. subordinated note(5) | ​ | 4/15/2021 | ​ | 5.00 | % | ​ | 7,000 | ​ | ​ | ​ | ​ | ​ | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
Messiah College subordinated note(5) | ​ | 4/15/2021 | ​ | 5.00 | % | ​ | 4,000 | ​ | ​ | ​ | ​ | ​ | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
National Bank of Commerce subordinated debt(2) | ​ | 6/1/2026 | ​ | 6.00 | % | ​ | 25,000 | ​ | ​ | ​ | ​ | ​ | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
Landmark Bancshares subordinated debt(3) | ​ | 6/30/2027 | ​ | 6.50 | % | ​ | 13,000 | ​ | ​ | ​ | ​ | ​ | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
CenterState Bank Corporation subordinated debt(4) | ​ | 6/1/2030 | ​ | 5.75 | % | ​ | 200,000 | ​ | ​ | ​ | ​ | ​ | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
Long-term subordinated debt costs | ​ | ​ | ​ | ​ | ​ | ​ | (3,146) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
Total Subordinated Debt | ​ | ​ | ​ | 5.78 | % | ​ | 245,854 | ​ | ​ | 139,584 | ​ | 5.69 | % | — | % | ​ | — | ​ | ​ | — | ​ | — | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Long Term Debt | ​ | Various | ​ | — | % | ​ | — | ​ | ​ | 92 | ​ | 0.50 | % | 0.50 | % |  | 103 | ​ | ​ | 636 | ​ | 6.02 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total long-term borrowings | ​ | ​ | ​ | 4.40 | % | ​ | 390,179 | ​ | ​ | 271,493 | ​ | 3.60 | % | 3.60 | % | ​ | 115,936 | ​ | ​ | 116,126 | ​ | 3.60 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total borrowings | ​ | ​ | ​ | 4.40 | % | $ | 390,179 | ​ | $ | 1,017,432 | ​ | 1.58 | % | 2.00 | % | $ | 815,936 | ​ | $ | 654,753 | ​ | 2.57 | %
​ (1) All of the junior subordinated debt above is adjustable rate based on three-month LIBOR plus a spread ranging from 140 bps to 305 bps. (2) The Notes bear interest at a fixed rate of 6.0% per year, from, and including, May 19, 2016, to, but excluding, June 1, 2021. On June 1, 2021, the Notes convert to a floating rate equal to three-month LIBOR plus 479 bps. The Notes may be redeemed by the Company after June 1, 2021. (3) The Notes bear interest at a fixed rate of 6.5% per year, to, but excluding, June 30, 2022. On June 30, 2022, the Notes convert to a floating rate equal to three-month LIBOR plus 467 bps. The Notes may be redeemed by the Company after June 30, 2022. (4) The $200 million in Notes bear interest at a fixed rate of 5.75% per year, to, but excluding, June 1, 2025. On June 1, 2025, the Notes convert to a floating rate equal to SOFR plus 562 bps. The Notes may be redeemed by the Company after June 1, 2025. The carrying balance of this debt is $196.9 million when netted against debt issuance costs of $3.1 million. (5) These subordinated notes are not classified as Tier 2 Capital for regulatory capital purposes.
Summary of principal maturities of other borrowings | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Junior |  | ​ | ​ | ​ |  | ​ |
​ | Subordinated | ​ | FHLB | ​ | Subordinated | ​ | ​ |
(Dollars in thousands) | Debt | ​ | Advances | ​ | Debt | ​ | Total |
Year Ended December 31, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2021 | $ | — | ​ | $ | — | ​ | $ | 11,000 | ​ | $ | 11,000 | ​
2022 |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
2023 |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
2024 |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
2025 |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
Thereafter |  | 144,325 | ​ |  | — | ​ |  | 234,854 | ​ |  | 379,179 | ​
​ | $ | 144,325 | ​ | $ | — | ​ | $ | 245,854 | ​ | $ | 390,179 | ​

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