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Subordinated Notes and Junior Subordinated Debentures (Tables)
9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Junior Subordinated Debentures by Issuance

At September 30, 2020 and December 31, 2019, the Company’s junior subordinated debentures by issuance were as follows:

 

Name of Trust

 

Aggregate

Principal

Amount

September 30,

2020

 

 

Aggregate

Principal

Amount

December 31,

2019

 

 

Stated

Maturity

 

Contractual

Rate at

September 30,

2020

 

 

Interest Rate Spread

Metropolitan Statutory Trust 1

 

$

35,000

 

 

$

35,000

 

 

March 17, 2034

 

 

3.03

%

 

Three-month LIBOR + 2.79%

RidgeStone Capital Trust I

 

 

 

 

 

1,500

 

 

June 30, 2033

 

n/a

 

 

Five-year LIBOR + 3.50%

First Evanston Bancorp Trust I

 

 

10,000

 

 

 

10,000

 

 

March 15, 2035

 

 

2.03

%

 

Three-month LIBOR + 1.78%

Total liability, at par

 

 

45,000

 

 

 

46,500

 

 

 

 

 

 

 

 

 

Discount

 

 

(8,669

)

 

 

(9,166

)

 

 

 

 

 

 

 

 

Total liability, at carrying value

 

$

36,331

 

 

$

37,334