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v3.21.1

Subordinated Debentures and Convertible Notes (Tables) | 3 Months Ended
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Mar. 31, 2021
Subordinated Borrowings [Abstract] |
Summary of Trust Preferred Securities and Debentures | The following table is a summary of trust preferred securities and Debentures at March 31, 2021:
Issuance Trust |  | Issuance Date |  | Trust Preferred Security Amount |  | Carrying Value of Debentures |  | Rate Type |  | Current Rate |  | Maturity Date
|  |  |  | (Dollars in thousands) |  |  |  |  |  |
Nara Capital Trust III |  | 06/05/2003 |  | $ | 5,000 |  |  | $ | 5,155 |  |  | Variable |  | 3.334% |  | 06/15/2033
Nara Statutory Trust IV |  | 12/22/2003 |  | 5,000 |  |  | 5,155 |  |  | Variable |  | 3.091% |  | 01/07/2034
Nara Statutory Trust V |  | 12/17/2003 |  | 10,000 |  |  | 10,310 |  |  | Variable |  | 3.132% |  | 12/17/2033
Nara Statutory Trust VI |  | 03/22/2007 |  | 8,000 |  |  | 8,248 |  |  | Variable |  | 1.834% |  | 06/15/2037
Center Capital Trust I |  | 12/30/2003 |  | 18,000 |  |  | 14,514 |  |  | Variable |  | 3.091% |  | 01/07/2034
Wilshire Trust II |  | 03/17/2005 |  | 20,000 |  |  | 16,025 |  |  | Variable |  | 1.972% |  | 03/17/2035
Wilshire Trust III |  | 09/15/2005 |  | 15,000 |  |  | 11,374 |  |  | Variable |  | 1.584% |  | 09/15/2035
Wilshire Trust IV |  | 07/10/2007 |  | 25,000 |  |  | 18,406 |  |  | Variable |  | 1.564% |  | 09/15/2037
Saehan Capital Trust I |  | 03/30/2007 |  | 20,000 |  |  | 15,282 |  |  | Variable |  | 1.819% |  | 06/30/2037
Total |  |  |  | $ | 126,000 |  |  | $ | 104,469 |  |  |  |  |  |  |
Convertible Debt | The value of the convertible note at issuance and the carrying value as of March 31, 2021 and December 31, 2020 are presented in the tables below:
|  |  |  |  |  | As of March 31, 2021
|  | Amortization/ Capitalization Period |  | Gross Carrying Amount |  | Accumulated Amortization / Capitalization |  | Carrying Amount
|  |  |  | (Dollars in thousands)
Convertible notes principal balance |  |  |  | $ | 217,500 |  |  | $ | — |  |  | $ | 217,500 |
Issuance costs to be capitalized |  | 5 years |  | (4,119) |  |  | 2,123 |  |  | (1,996) |
Carrying balance of convertible notes |  |  |  | $ | 213,381 |  |  | $ | 2,123 |  |  | $ | 215,504 |
|  |  |  |  |  | As of December 31, 2020
|  | Amortization/ Capitalization Period |  | Gross Carrying Amount |  | Accumulated Amortization / Capitalization |  | Carrying Amount
|  |  |  | (Dollars in thousands)
Convertible notes principal balance |  |  |  | $ | 217,500 |  |  | $ | — |  |  | $ | 217,500 |
Discount |  | 5 years |  | (21,880) |  |  | 10,951 |  |  | (10,929) |
Issuance costs to be capitalized |  | 5 years |  | (4,119) |  |  | 2,113 |  |  | (2,006) |
Carrying balance of convertible notes |  |  |  | $ | 191,501 |  |  | $ | 13,064 |  |  | $ | 204,565 |

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- Definition Tabular disclosure of borrowings which can be exchanged for a specified number of another security at the option of the issuer or the holder. Disclosures include, but are not limited to, principal amount, amortized premium or discount, and amount of liability and equity components. + References No definition available. + Details
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- Definition Tabular disclosure of borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC uniform net capital rules for broker-dealers, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details
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- References No definition available. + Details
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