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Other Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2021
Other Borrowings. |
Schedule of other borrowings | The Company’s other borrowings were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | 2021 | ​ | ​ | ​ | 2020 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted | ​
​ | ​ | ​ | ​ | Interest | ​ | ​ | ​ | ​ | ​ | ​ | Average | ​ | Interest | ​ | ​ | ​ | ​ | ​ | ​ | Average | ​
​ | ​ | ​ | ​ | Rate at | ​ | ​ | ​ | Average | ​ | Interest | ​ | Rate at | ​ | ​ | ​ | Average | ​ | Interest | ​
(Dollars in thousands) |  | Maturity |  | 12/31/2021 |  | Balance | ​ | Balance |  | Rate |  | 12/31/2020 |  | Balance | ​ | Balance |  | Rate | ​
Short-term borrowings: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
FHLB Advances | ​ | Various | ​ | — | % | $ | — | ​ | ​ | ​ | ​ | ​ | ​ | — | % | $ | — | ​ | ​ | ​ | ​ | ​ | ​
FRB Borrowings | ​ | Various | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​ | — | % | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
US Bank Line of Credit | ​ | Daily | ​ | — | % |  | — | ​ | ​ | ​ | ​ | ​ | ​ | — | % |  | — | ​ | ​ | ​ | ​ | ​ | ​
Total short-term borrowings | ​ | ​ | ​ | — | % | $ | — | ​ | $ | 1,986 | ​ | 2.22 | % | — | % | $ | — | ​ | $ | 745,939 | ​ | 0.63 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Long-term borrowings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
SCBT Capital Trust I junior subordinated debt(1) | ​ | 6/15/2035 | ​ | 1.99 | % | $ | 12,372 | ​ | ​ | ​ | ​ | ​ | ​ | 2.01 | % | $ | 12,372 | ​ | ​ | ​ | ​ | ​ | ​
SCBT Capital Trust II junior subordinated debt(1) | ​ | 6/15/2035 | ​ | 1.99 | % |  | 8,248 | ​ | ​ | ​ | ​ | ​ | ​ | 2.01 | % |  | 8,248 | ​ | ​ | ​ | ​ | ​ | ​
SCBT Capital Trust III junior subordinated debt(1) | ​ | 7/18/2035 | ​ | 1.79 | % | ​ | 20,619 | ​ | ​ | ​ | ​ | ​ | ​ | 1.81 | % | ​ | 20,619 | ​ | ​ | ​ | ​ | ​ | ​
SAVB Capital Trust I junior subordinated debt(1) | ​ | 10/7/2033 | ​ | 2.97 | % |  | 6,186 | ​ | ​ | ​ | ​ | ​ | ​ | 3.09 | % |  | 6,186 | ​ | ​ | ​ | ​ | ​ | ​
SAVB Capital Trust II junior subordinated debt(1) | ​ | 12/15/2034 | ​ | 2.40 | % |  | 4,124 | ​ | ​ | ​ | ​ | ​ | ​ | 2.42 | % |  | 4,124 | ​ | ​ | ​ | ​ | ​ | ​
TSB Statutory Trust I junior subordinated debt(1) | ​ | 3/14/2037 | ​ | 1.92 | % |  | 3,093 | ​ | ​ | ​ | ​ | ​ | ​ | 1.94 | % |  | 3,093 | ​ | ​ | ​ | ​ | ​ | ​
Southeastern Bank Financial Statutory Trust I junior subordinated debt(1) | ​ | 12/15/2035 | ​ | 1.60 | % |  | 10,310 | ​ | ​ | ​ | ​ | ​ | ​ | 1.62 | % |  | 10,310 | ​ | ​ | ​ | ​ | ​ | ​
Southeastern Bank Financial Statutory Trust II junior subordinated debt(1) | ​ | 6/15/2036 | ​ | 1.60 | % |  | 10,310 | ​ | ​ | ​ | ​ | ​ | ​ | 1.62 | % |  | 10,310 | ​ | ​ | ​ | ​ | ​ | ​
CSBC Statutory Trust I junior subordinated debt(1) | ​ | 12/15/2035 | ​ | 1.77 | % |  | 15,464 | ​ | ​ | ​ | ​ | ​ | ​ | 1.79 | % |  | 15,464 | ​ | ​ | ​ | ​ | ​ | ​
Community Capital Statutory Trust I junior subordinated debt(1) | ​ | 6/15/2036 | ​ | 1.75 | % |  | 10,310 | ​ | ​ | ​ | ​ | ​ | ​ | 1.77 | % |  | 10,310 | ​ | ​ | ​ | ​ | ​ | ​
FCRV Statutory Trust I junior subordinated debt(1) | ​ | 12/15/2036 | ​ | 1.90 | % |  | 5,155 | ​ | ​ | ​ | ​ | ​ | ​ | 1.92 | % |  | 5,155 | ​ | ​ | ​ | ​ | ​ | ​
Provident Community Bancshares Capital Trust I junior subordinated debt(1) | ​ | 3/1/2037 | ​ | 1.87 | % |  | 4,124 | ​ | ​ | ​ | ​ | ​ | ​ | 1.97 | % |  | 4,124 | ​ | ​ | ​ | ​ | ​ | ​
Provident Community Bancshares Capital Trust II junior subordinated debt(1) | ​ | 10/1/2036 | ​ | 1.91 | % |  | 8,248 | ​ | ​ | ​ | ​ | ​ | ​ | 1.97 | % |  | 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 | ​ | ​ | ​ | ​ | ​ | ​ | (1,398) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (14,116) | ​ | ​ | ​ | ​ | ​ | ​
Total Junior Subordinated Debt | ​ | ​ | ​ | 1.89 | % | ​ | 117,165 | ​ | ​ | 130,048 | ​ | 1.97 | % | 2.05 | % | ​ | 144,325 | ​ | ​ | 131,817 | ​ | 2.51 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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 | ​ | ​ | ​ | ​ | ​ | ​ | 6.50 | % | ​ | 13,000 | ​ | ​ | ​ | ​ | ​ | ​
CenterState Bank Corporation subordinated debt(4) | ​ | 6/1/2030 | ​ | 5.75 | % | ​ | 200,000 | ​ | ​ | ​ | ​ | ​ | ​ | 5.75 | % | ​ | 200,000 | ​ | ​ | ​ | ​ | ​ | ​
Long-term subordinated debt costs | ​ | ​ | ​ | ​ | ​ | ​ | (3,099) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3,146) | ​ | ​ | ​ | ​ | ​ | ​
Total Subordinated Debt | ​ | ​ | ​ | 5.80 | % | ​ | 209,901 | ​ | ​ | 222,765 | ​ | 5.81 | % | 5.78 | % | ​ | 245,854 | ​ | ​ | 139,584 | ​ | 5.69 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Long Term Debt | ​ | Various | ​ | — | % | ​ | — | ​ | ​ | — | ​ | — | % | — | % | ​ | — | ​ | ​ | 92 | ​ | 0.50 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total long-term borrowings | ​ | ​ | ​ | 4.40 | % | $ | 327,066 | ​ | $ | 352,813 | ​ | 4.36 | % | 4.40 | % | $ | 390,179 | ​ | $ | 271,493 | ​ | 3.60 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total borrowings | ​ | ​ | ​ | 4.40 | % | $ | 327,066 | ​ | $ | 354,799 | ​ | 4.35 | % | 4.40 | % | $ | 390,179 | ​ | $ | 1,017,432 | ​ | 1.58 | %
(1) All of the junior subordinated debt above is adjustable rate based on three-month LIBOR plus a spread ranging from 140 basis points to 285 basis points. (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 basis points. The Notes were redeemed by the Company on 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 basis points. 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 basis points. The Notes may be redeemed by the Company after June 1, 2025. The balance in the table above at December 31, 2021 is net of debt issuance costs of $3.1 million. (5) These subordinated notes were not classified as Tier 2 Capital for regulatory capital purposes.
Summary of principal maturities of other borrowings, net of unamortized discount or debt issuance costs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Junior |  | ​ | ​ | ​ |  | ​ |
​ | Subordinated | ​ | FHLB | ​ | Subordinated | ​ | ​ |
(Dollars in thousands) | Debt | ​ | Advances | ​ | Debt | ​ | Total |
Year Ended December 31, | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2022 | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​
2023 |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
2024 |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
2025 |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
2026 |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
Thereafter |  | 117,165 | ​ |  | — | ​ |  | 209,901 | ​ |  | 327,066 | ​
​ | $ | 117,165 | ​ | $ | — | ​ | $ | 209,901 | ​ | $ | 327,066 | ​

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