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Subordinated Notes and Junior Subordinated Debentures (Tables)
3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Junior Subordinated Debentures by Issuance

At March 31, 2022 and December 31, 2021, the Company’s junior subordinated debentures by issuance were as follows:

 

Name of Trust

 

Aggregate Principal Amount March 31, 2022

 

 

Aggregate
Principal Amount
December 31, 2021

 

 

Stated
Maturity

 

Contractual Rate at March 31, 2022

 

 

Interest Rate Spread

Metropolitan Statutory Trust 1

 

$

35,000

 

 

$

35,000

 

 

March 17, 2034

 

 

3.71

%

 

Three-month
LIBOR +
2.79%

First Evanston Bancorp Trust I

 

 

10,000

 

 

 

10,000

 

 

March 15, 2035

 

 

2.61

%

 

Three-month
LIBOR +
1.78%

Total liability, at par

 

 

45,000

 

 

 

45,000

 

 

 

 

 

 

 

 

Discount

 

 

(7,989

)

 

 

(8,094

)

 

 

 

 

 

 

 

Total liability, at carrying value

 

$

37,011

 

 

$

36,906