XML 73 R51.htm IDEA: XBRL DOCUMENT v3.25.0.1

Other Borrowings (Tables)

12 Months Ended

Dec. 31, 2024

Other Borrowings.

Schedule of other borrowings

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December 31, 2024

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​

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December 31, 2023

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Interest

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Weighted

​

Interest

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Weighted

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Rate at

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Average

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Rate at

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​

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Average

​

​

​

​

​

December 31,

​

​

​

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Average

​

Interest

​

December 31,

​

​

​

​

Average

​

Interest

​

(Dollars in thousands)

Maturity

2024

Balance

​

Balance

Rate(4)

2023

Balance

​

Balance

Rate(4)

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Short-term borrowings:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

FHLB Advances

​

Various

​

—

%

$

—

​

​

​

​

​

​

5.57

%

$

100,000

​

​

​

​

​

​

FRB Borrowings

​

Various

​

—

%

​

—

​

​

​

​

​

​

—

%

​

—

​

​

​

​

​

​

US Bank Line of Credit

​

Daily

​

—

%

—

​

​

​

​

​

​

—

%

—

​

​

​

​

​

​

Total short-term borrowings

​

​

​

—

%

$

—

​

$

179,235

​

5.55

%

—

%

$

100,000

​

$

243,014

​

5.08

%

​

​

​

​

​

​

​

​

​

​

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​

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Long-term borrowings

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

SCBT Capital Trust I junior subordinated debt(1)

​

6/15/2035

​

6.41

%

$

12,372

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​

​

​

​

​

7.44

%

$

12,372

​

​

​

​

​

​

SCBT Capital Trust II junior subordinated debt(1)

​

6/15/2035

​

6.41

%

8,248

​

​

​

​

​

​

7.44

%

8,248

​

​

​

​

​

​

SCBT Capital Trust III junior subordinated debt(1)

​

7/18/2035

​

6.21

%

​

20,619

​

​

​

​

​

​

7.24

%

​

20,619

​

​

​

​

​

​

SAVB Capital Trust I junior subordinated debt(1)

​

10/7/2033

​

7.77

%

6,186

​

​

​

​

​

​

8.51

%

6,186

​

​

​

​

​

​

SAVB Capital Trust II junior subordinated debt(1)

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12/15/2034

​

6.82

%

4,124

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​

​

​

​

​

7.85

%

4,124

​

​

​

​

​

​

TSB Statutory Trust I junior subordinated debt(1)

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3/14/2037

​

6.34

%

3,093

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​

​

​

​

​

7.37

%

3,093

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​

​

​

​

​

Southeastern Bank Financial Statutory Trust I junior subordinated debt(1)

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12/15/2035

​

6.02

%

10,310

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​

​

​

​

​

7.05

%

10,310

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​

​

​

​

​

Southeastern Bank Financial Statutory Trust II junior subordinated debt(1)

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6/15/2036

​

6.02

%

10,310

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​

​

​

​

​

7.05

%

10,310

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​

​

​

​

​

CSBC Statutory Trust I junior subordinated debt(1)

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12/15/2035

​

6.19

%

15,464

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​

​

​

​

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7.22

%

15,464

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​

​

​

​

​

Community Capital Statutory Trust I junior subordinated debt(1)

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6/15/2036

​

6.17

%

10,310

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​

​

​

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7.20

%

10,310

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​

​

​

​

​

FCRV Statutory Trust I junior subordinated debt(1)

​

12/15/2036

​

6.32

%

5,155

​

​

​

​

​

​

7.35

%

5,155

​

​

​

​

​

​

Provident Community Bancshares Capital Trust I junior subordinated debt(1)

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3/1/2037

​

6.59

%

4,124

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​

​

​

​

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7.40

%

4,124

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​

​

​

​

​

Provident Community Bancshares Capital Trust II junior subordinated debt(1)

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10/1/2036

​

6.50

%

8,248

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​

​

​

​

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7.38

%

8,248

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​

​

​

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​

Fair Market Value Discount Trust Preferred Debt Acquired

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​

​

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(689)

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(926)

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Total Junior Subordinated Debt

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​

​

6.35

%

$

117,874

​

$

117,748

​

7.27

%

7.34

%

$

117,637

​

$

117,514

​

7.05

%

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​

​

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CenterState Bank Corporation subordinated debt(2)

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6/1/2030

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5.75

%

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200,000

​

​

​

​

​

​

5.75

%

​

200,000

​

​

​

​

​

​

Atlantic Capital Bancshares, Inc. subordinated debt(3)

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9/1/2030

​

5.50

%

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75,000

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​

​

​

​

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5.50

%

​

75,000

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​

​

​

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Fair Market Value Premium subordinated debt acquired

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​

​

​

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​

651

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​

​

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​

1,627

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Long-term subordinated debt costs

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​

​

​

​

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(1,991)

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​

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(2,360)

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Total Subordinated Debt

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​

​

5.68

%

$

273,660

​

$

273,981

​

5.68

%

5.68

%

$

274,267

​

$

274,585

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5.68

%

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Total long-term borrowings

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​

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5.88

%

$

391,534

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$

391,729

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6.16

%

6.18

%

$

391,904

​

$

392,099

​

6.09

%

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Total borrowings

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​

​

5.88

%

$

391,534

​

$

570,964

​

5.97

%

6.06

%

$

491,904

​

$

635,113

​

5.71

%

(1) All of the junior subordinated debt above is adjustable rate based on three-month CME SOFR plus a spread adjustment with the transition from LIBOR of 0.26161% plus a spread ranging from 140 basis points to 285 basis points. All of the Company's junior subordinated debt transitioned to SOFR from LIBOR for repricing dates after June 30, 2023.

(2) 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 is net of debt issuance costs.

(3) The Notes bear interest at a fixed rate of 5.50% per year to, but excluding, September 1, 2025. On September 1, 2025, the Notes convert to a floating rate equal to three-month LIBOR plus 536 basis points. The Notes may be redeemed by the Company on or after September 1, 2025. These notes were acquired in the ACBI acquisition on March 1, 2022 and are net of the fair value discount noted in the table above.

(4) The weighted average interest rate calculation does not include the effects of fair value marks and debt issuance costs.

Summary of principal maturities of other borrowings, net of unamortized discount or debt issuance costs

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Junior

​

​

​

​

​

Subordinated

​

FHLB

​

Subordinated

​

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(Dollars in thousands)

Debt

​

Advances

​

Debt

​

Total

Year Ended December 31,

​

​

​

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2025

$

—

​

$

—

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$

—

​

$

—

​

2026

—

​

—

​

—

​

—

​

2027

—

​

—

​

—

​

—

​

2028

—

​

—

​

—

​

—

​

2029

—

​

—

​

—

​

—

​

Thereafter

117,874

​

—

​

273,660

​

391,534

​

​

$

117,874

​

$

—

​

$

273,660

​

$

391,534

​

​

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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