XML 32 R22.htm IDEA: XBRL DOCUMENT
v3.25.3

SUBORDINATED NOTES | 9 Months Ended
--- | ---
Sep. 30, 2025
SUBORDINATED NOTES |
SUBORDINATED NOTES | NOTE 13: SUBORDINATED NOTES On June 10, 2020, the Company completed the public offering and sale of $75.0 million of its subordinated notes. The notes were due June 15, 2030, and had a fixed interest rate of 5.50% until June 15, 2025, at which time the rate was to begin floating at a rate expected to be equal to three-month term Secured Overnight Financing Rate (SOFR) plus 5.325%. The notes were sold at par, resulting in net proceeds, after underwriting discounts and commissions, legal, accounting and other professional fees, of approximately $73.5 million. Total debt issuance costs of approximately $1.5 million were deferred and amortized over the expected life of the notes, which was five years. On June 15, 2025, in accordance with the terms of the notes, the Company redeemed all $75.0 million aggregate principal amount of the subordinated notes at a redemption price equal to 100% of their principal amount, plus accrued and unpaid interest. Amortization of the debt issuance costs during the three months ended September 30, 2025 and 2024, totaled $0 and $74,000, respectively. Amortization of the debt issuance costs during the nine months ended September 30, 2025 and 2024, totaled $124,000 and $223,000, respectively. At September 30, 2025 and December 31, 2024, subordinated notes were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, |  | December 31,
​ | ​ | 2025 | ​ | 2024
​ | ​ | (In Thousands)
Subordinated notes | ​ | $ | — | ​ | $ | 75,000
Less: unamortized debt issuance costs | ​ |  | — | ​ | ​ | 124
​ | ​ | $ | — | ​ | $ | 74,876
​

X
- References No definition available. + Details
Name: | us-gaap_SubordinatedBorrowingsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC's uniform net capital rule, 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 -Topic 942 -SubTopic 470 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478878/942-470-45-1 + Details
Name: | us-gaap_SubordinatedBorrowingsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration