XML 63 R47.htm IDEA: XBRL DOCUMENT v3.8.0.1
Long-Term Borrowings and Subordinated Debt (Tables)
 12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Schedule of Long-Term Borrowings, Interest Expense and Weighted Average Interest Rate
The following table represents the balance of long-term borrowings, the weighted average interest rate as of December 31 and interest expense for the years ended December 31:
(dollars in thousand)
2017
 
2016
 
2015
Long-term borrowings
$
47,301

 
$
14,713

 
$
117,043

Weighted average interest rate
1.88
%
 
2.91
%
 
0.81
%
Interest expense
$
463

 
$
670

 
$
790
Schedule of Annual Maturities and Average Interest Rate of Long-Term Debt
Scheduled annual maturities and average interest rates for all of our long-term debt for each of the five years subsequent to December 31, 2017 and thereafter are as follows:
(dollars in thousands)
Balance

 
Average  Rate

2018
$
2,496

 
3.60
%
2019
37,514

 
1.60
%
2020
2,004

 
3.22
%
2021
1,057

 
3.44
%
2022
529

 
4.50
%
Thereafter
3,701

 
1.96
%
Total
$
47,301

 
1.88
%
Schedule of Junior Subordinated Debt Securities and Interest Expense
The following table represents the composition of junior subordinated debt securities at December 31 and the interest expense for the years ended December 31:
 
2017
 
2016
 
2015
(dollars in thousands)
Balance

 
Interest
Expense

 
Balance

 
Interest
Expense

 
Balance

 
Interest
Expense

2006 Junior subordinated debt
$
25,000

 
$
708

 
$
25,000

 
$
580

 
$
25,000

 
$
554

2008 Junior subordinated debt—trust preferred securities
20,619

 
955

 
20,619

 
854

 
20,619

 
773

Total
$
45,619

 
$
1,663

 
$
45,619

 
$
1,434

 
$
45,619

 
$
1,327
Schedule of Junior Subordinated Debt Securities
The following table summarizes the key terms of our junior subordinated debt securities:
(dollars in thousands)
2006 Junior
Subordinated Debt
 
2008 Trust
Preferred Securities
Junior Subordinated Debt
$25,000
 
—
Trust Preferred Securities
—
 
$20,619
Stated Maturity Date
12/15/2036
 
3/15/2038
Optional redemption date at par
Any time after 9/15/2011
 
Any time after 3/15/2013
Regulatory Capital
Tier 2
 
Tier 1
Interest Rate
3 month LIBOR plus 160 bps
 
3 month LIBOR plus 350 bps
Interest Rate at December 31, 2017
2.92%
 
4.82%