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Borrowings | 9 Months Ended
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Sep. 30, 2020
Debt Disclosure [Abstract] |
Borrowings | Borrowings The following tables present information regarding the Company’s outstanding borrowings at September 30, 2020 and December 31, 2019 - dollars are in thousands:
Description |  | Due date |  | Call Feature |  | September 30, 2020 |  | Interest Rate
FHLB Principal Reducing Credit |  | 7/24/2023 |  | None |  | $ | 135 |  |  | 1.00% fixed
FHLB Principal Reducing Credit |  | 12/22/2023 |  | None |  | 1,001 |  |  | 1.25% fixed
FHLB Principal Reducing Credit |  | 1/15/2026 |  | None |  | 5,500 |  |  | 1.98% fixed
FHLB Principal Reducing Credit |  | 6/26/2028 |  | None |  | 237 |  |  | 0.25% fixed
FHLB Principal Reducing Credit |  | 7/17/2028 |  | None |  | 51 |  |  | 0.00% fixed
FHLB Principal Reducing Credit |  | 8/18/2028 |  | None |  | 176 |  |  | 1.00% fixed
FHLB Principal Reducing Credit |  | 8/22/2028 |  | None |  | 176 |  |  | 1.00% fixed
FHLB Principal Reducing Credit |  | 12/20/2028 |  | None |  | 358 |  |  | 0.50% fixed
Other Borrowing |  | 4/7/2022 |  | None |  | 103 |  |  | 1.00% fixed
Trust Preferred Securities |  | 1/23/2034 |  | Quarterly by Company beginning 1/23/2009 |  | 20,620 |  |  | 2.97% at 9/30/2020 adjustable rate 3 month LIBOR + 2.70%
Trust Preferred Securities |  | 6/15/2036 |  | Quarterly by Company beginning 6/15/2011 |  | 25,774 |  |  | 1.64% at 9/30/2020 adjustable rate 3 month LIBOR + 1.39%
Trust Preferred Securities |  | 1/7/2035 |  | Quarterly by Company beginning 1/7/2010 |  | 10,310 |  |  | 2.28% at 9/30/2020 adjustable rate 3 month LIBOR + 2.00%
Total borrowings/ weighted average rate as of |  | September 30, 2020 |  | $ | 64,441 |  |  | 2.26%
Unamortized discount on acquired borrowings |  |  |  | (2,625) |  |  |
Total borrowings |  |  |  |  |  | $ | 61,816 |  |  |
Description |  | Due date |  | Call Feature |  | December 31, 2019 |  | Interest Rate
FHLB Term Note |  | 1/30/2020 |  | None |  | $ | 100,000 |  |  | 1.70% fixed
FHLB Term Note |  | 1/31/2020 |  | None |  | 68,000 |  |  | 1.70% fixed
FHLB Term Note |  | 1/31/2020 |  | None |  | 30,000 |  |  | 1.70% fixed
FHLB Term Note |  | 5/29/2020 |  | None |  | 40,000 |  |  | 1.62% fixed
FHLB Principal Reducing Credit |  | 7/24/2023 |  | None |  | 168 |  |  | 1.00% fixed
FHLB Principal Reducing Credit |  | 12/22/2023 |  | None |  | 1,029 |  |  | 1.25% fixed
FHLB Principal Reducing Credit |  | 1/15/2026 |  | None |  | 6,500 |  |  | 1.98% fixed
FHLB Principal Reducing Credit |  | 6/26/2028 |  | None |  | 245 |  |  | 0.25% fixed
FHLB Principal Reducing Credit |  | 7/17/2028 |  | None |  | 55 |  |  | 0.00% fixed
FHLB Principal Reducing Credit |  | 8/18/2028 |  | None |  | 181 |  |  | 1.00% fixed
FHLB Principal Reducing Credit |  | 8/22/2028 |  | None |  | 181 |  |  | 1.00% fixed
FHLB Principal Reducing Credit |  | 12/20/2028 |  | None |  | 367 |  |  | 0.50% fixed
Trust Preferred Securities |  | 1/23/2034 |  | Quarterly by Company beginning 1/23/2009 |  | 20,620 |  |  | 4.64% at 12/31/2019 adjustable rate 3 month LIBOR + 2.70%
Trust Preferred Securities |  | 6/15/2036 |  | Quarterly by Company beginning 6/15/2011 |  | 25,774 |  |  | 3.28% at 12/31/2019 adjustable rate 3 month LIBOR + 1.39%
Trust Preferred Securities |  | 1/7/2035 |  | Quarterly by Company beginning 1/7/2010 |  | 10,310 |  |  | 3.99% at 12/31/2019 adjustable rate 3 month LIBOR + 2.00%
Total borrowings / weighted average rate as of December 31, 2019 |  | $ | 303,430 |  |  | 2.12%
Unamortized discount on acquired borrowings |  |  |  | (2,759) |  |  |
Total borrowings |  |  |  |  |  | $ | 300,671 |  |  |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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