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Subordinated Debentures and Convertible Notes (Tables)

9 Months Ended

Sep. 30, 2022

Subordinated Borrowings [Abstract]

Summary of Trust Preferred Securities and Debentures

The following table is a summary of trust preferred securities and Debentures at September 30, 2022:

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						6.443%						06/15/2033
Nara Statutory Trust IV						12/22/2003						5,000						5,155						Variable						5.362%						01/07/2034
Nara Statutory Trust V						12/17/2003						10,000						10,310						Variable						6.477%						12/17/2033
Nara Statutory Trust VI						03/22/2007						8,000						8,248						Variable						4.943%						06/15/2037
Center Capital Trust I						12/30/2003						18,000						14,874						Variable						5.362%						01/07/2034
Wilshire Trust II						03/17/2005						20,000						16,375						Variable						5.317%						03/17/2035
Wilshire Trust III						09/15/2005						15,000						11,671						Variable						4.693%						09/15/2035
Wilshire Trust IV						07/10/2007						25,000						18,856						Variable						4.673%						09/15/2037
Saehan Capital Trust I						03/30/2007						20,000						15,614						Variable						5.294%						06/30/2037
Total												$	126,000					$	106,258

Convertible Debt

The value of the convertible notes at issuance and the carrying value as of September 30, 2022 and December 31, 2021 are presented in the tables below:

																		September 30, 2022
						Capitalization Period						Gross Carrying Amount						Total Capitalization						Carrying Amount
												(Dollars in thousands)
Convertible notes principal balance												$	217,500											$	217,500
Issuance costs to be capitalized						5 years						(4,119)						$	3,532					(587)
Carrying balance of convertible notes												$	213,381					$	3,532					$	216,913

																		December 31, 2021
						Capitalization Period						Gross Carrying Amount						Total Capitalization						Carrying Amount
												(Dollars in thousands)
Convertible notes principal balance												$	217,500											$	217,500
Issuance costs to be capitalized						5 years						(4,119)						$	2,828					(1,291)
Carrying balance of convertible notes												$	213,381					$	2,828					$	216,209

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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

No definition available.

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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 https://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822

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