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Borrowings (Tables)

12 Months Ended

Dec. 31, 2021

Borrowings

Schedule of distribution of securities sold under agreements to repurchase and short-term borrowings and weighted average interest rates

Securities sold under agreements to repurchase were as follows (dollars in thousands):

​

​	​	​	​	​	​	​	​
​		As of December 31,					​
​		2021			2020
Securities sold under agreements to repurchase	​	$	270,139	​	$	175,614	​
Weighted average rate for securities sold under agreements to repurchase	​	​	0.08	%	​	0.13	%

Summary of long-term debt

Short-term borrowings are summarized as follows (dollars in thousands):

​

​	​	​	​	​	​	​
​		As of December 31,
​		2021			2020
Short-term borrowings	​	​	​	​	​	​
FHLB advances maturing in less than one year from date of origination, and the current portion of long-term FHLB advances due within 12 months	​	$	5,678	​	$	4,658
Term Loan, current portion due within 12 months	​	​	12,000	​	​	—
Total short-term debt	​	$	17,678	​	$	4,658

Long-term debt is summarized as follows (dollars in thousands):

​

​	​	​	​	​	​	​
​		As of December 31,
​		2021			2020
Long-term debt	​	​	​	​	​	​
Notes payable, FHLB, original maturity of 5 years, collateralized by FHLB deposits, residential and commercial real estate loans and FHLB stock	​	$	4,056	​	$	4,757
Term Loan	​	​	42,000	​	​	—
Total long-term debt	​	$	46,056	​	$	4,757

Schedule of unamortized debt issuance cost

​

​	​	​	​	​	​	​
​		As of December 31,
​		2021			2020
Unamortized debt issuance costs	​	​	​	​	​	​
Senior notes issued in 2017	​	$	56	​	$	191
Subordinated notes issued in 2017	​	​	549	​	​	651
Subordinated notes issued in 2020	​	​	1,678	​	​	2,123
Total unamortized debt issuance costs	​	$	2,283	​	$	2,965

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