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Borrowings (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | The following tables present information regarding the Company’s outstanding borrowings at March 31, 2024 and December 31, 2023 (dollars in thousands):
Description |  | Due date |  | Call Feature |  | Balance at March 31, 2024 |  | Interest Rate
FHLB Principal Reducing Credit |  | 6/26/2028 |  | None |  | $ | 200 |  |  | 0.25% fixed
FHLB Principal Reducing Credit |  | 7/17/2028 |  | None |  | 29 |  |  | 0.00% fixed
FHLB Principal Reducing Credit |  | 8/18/2028 |  | None |  | 148 |  |  | 1.00% fixed
FHLB Principal Reducing Credit |  | 8/22/2028 |  | None |  | 149 |  |  | 1.00% fixed
FHLB Principal Reducing Credit |  | 12/20/2028 |  | None |  | 312 |  |  | 0.50% fixed
FRB Bank Term Funding Program |  | 12/20/2024 |  | None |  | 174,000 |  |  | 4.85% fixed
FRB Bank Term Funding Program |  | 12/27/2024 |  | None |  | 25,000 |  |  | 4.83% fixed
FRB Bank Term Funding Program |  | 1/10/2025 |  | None |  | 32,000 |  |  | 4.81% fixed
Trust Preferred Securities |  | 1/23/2034 |  | Quarterly by Company beginning 1/23/2009 |  | 10,310 |  |  | 8.23% at 3/31/24 adjustable rate 3 month CME Term SOFR+ 2.91%
Trust Preferred Securities |  | 1/23/2034 |  | Quarterly by Company beginning 1/23/2009 |  | 10,310 |  |  | 8.33% at 3/31/24 adjustable rate 3 month CME Term SOFR + 3.01%
Trust Preferred Securities |  | 9/20/2034 |  | Quarterly by Company beginning 9/20/2009 |  | 12,372 |  |  | 7.74% at 3/31/24 adjustable rate 3 month CME Term SOFR + 2.41%
Trust Preferred Securities |  | 1/7/2035 |  | Quarterly by Company beginning 1/7/2010 |  | 10,310 |  |  | 7.58% at 3/31/24 adjustable rate 3 month CME Term SOFR + 2.00%
Trust Preferred Securities |  | 6/15/2036 |  | Quarterly by Company beginning 6/15/2011 |  | 25,774 |  |  | 6.98% at 3/31/24 adjustable rate 3 month CME Term SOFR + 1.65%
Trust Preferred Securities |  | 6/23/2036 |  | Quarterly by the Company beginning 6/23/2011 |  | 8,248 |  |  | 7.43% at 3/31/24 adjustable rate 3 month CME Term SOFR + 2.11%
Subordinated Debentures |  | 11/30/2028 |  | Continuous by Company beginning 11/30/2023 |  | 10,000 |  |  | 8.99% at 3/31/24 adjustable rate 3 month CME Term SOFR + 3.69%
Subordinated Debentures |  | 11/15/2030 |  | Continuous by Company beginning 11/15/2025 |  | 18,000 |  |  | 4.38% fixed
Total borrowings / weighted average rate as of March 31, 2024 |  | 337,162 |  |  | 5.56%
Unamortized discount on acquired borrowings |  |  |  | (4,827) |  |  |
Total borrowings |  |  |  |  |  | $ | 332,335 |  |  |
Description |  | Due date |  | Call Feature |  | Balance at December 31, 2023 |  | Interest Rate
FHLB Principal Reducing Credit |  | 6/26/2028 |  | None |  | $ | 203 |  |  | 0.25% fixed
FHLB Principal Reducing Credit |  | 7/17/2028 |  | None |  | 31 |  |  | 0.00% fixed
FHLB Principal Reducing Credit |  | 8/18/2028 |  | None |  | 151 |  |  | 1.00% fixed
FHLB Principal Reducing Credit |  | 8/22/2028 |  | None |  | 151 |  |  | 1.00% fixed
FHLB Principal Reducing Credit |  | 12/20/2028 |  | None |  | 315 |  |  | 0.50% fixed
FHLB Fixed Rate Credit |  | 1/16/2024 |  | None |  | 80,000 |  |  | 5.59% fixed
FHLB Fixed Rate Credit |  | 2/27/2024 |  | None |  | 100,000 |  |  | 5.61% fixed
FHLB Fixed Rate Credit |  | 3/20/2024 |  | None |  | 100,000 |  |  | 5.61% fixed
FRB Bank Term Funding Program |  | 12/20/2024 |  | None |  | 224,000 |  |  | 4.85% fixed
FRB Bank Term Funding Program |  | 12/27/2024 |  | None |  | 25,000 |  |  | 4.83% fixed
Trust Preferred Securities |  | 1/23/2034 |  | Quarterly by Company beginning 1/23/2009 |  | 10,310 |  |  | 8.30% at 12/31/23 adjustable rate 3 month CME Term SOFR + 2.91%
Trust Preferred Securities |  | 1/23/2034 |  | Quarterly by Company beginning 1/23/2009 |  | 10,310 |  |  | 8.40% at 12/31/23 adjustable rate 3 month CME Term SOFR + 3.01%
Trust Preferred Securities |  | 9/20/2034 |  | Quarterly by Company beginning 9/20/2009 |  | 12,372 |  |  | 7.78% at 12/31/23 adjustable rate 3 month CME Term SOFR + 2.41%
Trust Preferred Securities |  | 1/7/2035 |  | Quarterly by Company beginning 1/7/2010 |  | 10,310 |  |  | 7.66% at 12/31/23 adjustable rate 3 month CME Term SOFR + 2.00%
Trust Preferred Securities |  | 6/15/2036 |  | Quarterly by Company beginning 6/15/2011 |  | 25,774 |  |  | 7.04% at 12/31/23 adjustable rate 3 month CME Term SOFR + 1.65%
Trust Preferred Securities |  | 6/23/2036 |  | Quarterly by Company beginning 6/23/2011 |  | 8,248 |  |  | 7.47% at 12/31/23 adjustable rate 3 month CME Term SOFR + 2.11%
Subordinated Debentures |  | 11/30/2028 |  | Continuous by Company beginning 11/30/2023 |  | 10,000 |  |  | 9.09% at 12/31/23 adjustable rate 3 month CME Term SOFR + 3.69%
Subordinated Debentures |  | 11/15/2030 |  | Continuous by Company beginning 11/15/2025 |  | 18,000 |  |  | 4.38% fixed
Total borrowings / weighted average rate as of December 31, 2023 |  | 635,175 |  |  | 5.57%
Unamortized discount on acquired borrowings |  |  |  | (5,017) |  |  |
Total borrowings |  |  |  |  |  | $ | 630,158 |  |  |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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