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MANDATORILY REDEEMABLE PREFERRED SECURITIES | 3 Months Ended
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Mar. 31, 2021
MANDATORILY REDEEMABLE PREFERRED SECURITIES |
MANDATORILY REDEEMABLE PREFERRED SECURITIES | NOTE G: MANDATORILY REDEEMABLE PREFERRED SECURITIES As of March 31, 2021, the Company does not sponsor any business trusts. The Company previously sponsored Community Capital Trust IV (“CCT IV”) until March 15, 2021 when the Company exercised its right to redeem all of the CCT IV debentures and associated preferred securities for a total of $77.3 million. The Company previously sponsored Steuben Statutory Trust (“SST II”) until September 15, 2020 when the Company exercised its right to redeem all of the SST II debentures and associated preferred securities for a total of $2.1 million. The common stock of SST II was acquired in the Steuben acquisition. The trusts were formed for the purpose of issuing company-obligated mandatorily redeemable preferred securities to third-party investors and investing the proceeds from the sale of such preferred securities solely in junior subordinated debt securities of the Company. ​

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- Definition The entire disclosure for mandatorily redeemable preferred securities due to sponsorship of business trusts. + References No definition available. + Details
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