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Junior Subordinated Debentures (Tables)
12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Junior Subordinated Debentures by Issuance

At December 31, 2017 and 2016, the Company’s junior subordinated debentures by issuance were as follows:

 

Name of Trust

 

Aggregate

Principal

Amount

2017

 

 

Aggregate

Principal

Amount

2016

 

 

Stated

Maturity

 

Contractual Rate at December 31, 2017

 

 

Interest Rate Spread

Metropolitan Statutory Trust 1

 

$

35,000

 

 

$

35,000

 

 

March 17, 2034

 

 

4.39

%

 

Three-month LIBOR + 2.79%

RidgeStone Capital Trust I

 

 

1,500

 

 

 

1,500

 

 

June 30, 2033

 

 

5.09

%

 

Five-year LIBOR + 3.50%

Total liability, at par

 

 

36,500

 

 

 

36,500

 

 

 

 

 

 

 

 

 

Discount

 

 

(8,853

)

 

 

(9,574

)

 

 

 

 

 

 

 

 

Total liability, at carrying value

 

$

27,647

 

 

$

26,926