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Subordinated Debentures and Convertible Notes (Tables)

6 Months Ended

Jun. 30, 2021

Subordinated Borrowings [Abstract]

Summary of Trust Preferred Securities and Debentures

The following table is a summary of trust preferred securities and Debentures at June 30, 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						3.269%						06/15/2033
Nara Statutory Trust IV						12/22/2003						5,000						5,155						Variable						3.034%						01/07/2034
Nara Statutory Trust V						12/17/2003						10,000						10,310						Variable						3.075%						12/17/2033
Nara Statutory Trust VI						03/22/2007						8,000						8,248						Variable						1.769%						06/15/2037
Center Capital Trust I						12/30/2003						18,000						14,572						Variable						3.034%						01/07/2034
Wilshire Trust II						03/17/2005						20,000						16,082						Variable						1.915%						03/17/2035
Wilshire Trust III						09/15/2005						15,000						11,423						Variable						1.519%						09/15/2035
Wilshire Trust IV						07/10/2007						25,000						18,480						Variable						1.499%						09/15/2037
Saehan Capital Trust I						03/30/2007						20,000						15,337						Variable						1.767%						06/30/2037
Total												$	126,000					$	104,762

Convertible Debt

The value of the convertible note at issuance and the carrying value as of June 30, 2021 and December 31, 2020 are presented in the tables below:

																		As of June 30, 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)						2,358						(1,761)
Carrying balance of convertible notes												$	213,381					$	2,358					$	215,739

																		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 convertible debt instrument. Includes, but is not limited to, principal amount and amortized premium or discount.

+ References

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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

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