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v3.20.1

Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2019
Debt Disclosure [Abstract] |
Summary of Short term and Long term Borrowings and Subordinated Debentures | The following table summarizes the Company's short-term borrowings, long-term borrowings and subordinated debentures as presented on the consolidated statements of condition for the dates indicated:
|  | December 31, 2019 |  | Contractual Maturity |  | December 31, 2018
(Dollars in thousands) |  | Outstanding Balance |  | Weighted Average Contract Rate |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | Thereafter |  | Outstanding Balance |  | Weighted Average Contract Rate
Short-Term Borrowings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FHLBB borrowings |  | $ | 25,000 |  |  |  |  | $ | 25,000 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 25,000 |  |  |
Customer repurchase agreements |  | 237,984 |  |  |  |  | 237,984 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 245,868 |  |  |
FHLBB and correspondent bank overnight borrowings |  | 5,825 |  |  |  |  | 5,825 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Total short-term borrowings |  | $ | 268,809 |  |  | 1.28 | % |  | $ | 268,809 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 270,868 |  |  | 1.43 | %
Long-Term Borrowings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FHLBB borrowings |  | $ | 10,000 |  |  | 1.87 | % |  | $ | 10,000 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 10,000 |  |  | 1.87 | %
Capital lease obligation(1) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,580 |  |  | 4.20 | %
Total long-term borrowings |  | $ | 10,000 |  |  | 1.87 | % |  | $ | 10,000 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 11,580 |  |  | 2.19 | %
Subordinated Debentures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subordinated debentures(2) |  | $ | 14,749 |  |  | 5.50 | % |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 14,749 |  |  | $ | 14,634 |  |  | 5.50 | %
CCTA |  | 36,083 |  |  | 5.50 | % |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 36,083 |  |  | 36,083 |  |  | 5.38 | %
UBCT |  | 8,248 |  |  | 4.45 | % |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8,248 |  |  | 8,350 |  |  | 4.14 | %
Total subordinated debentures |  | $ | 59,080 |  |  | 5.35 | % |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 59,080 |  |  | $ | 59,067 |  |  | 5.23 | %
(1) | Upon adoption of ASU 2016-02, effective January 1, 2019, lease liabilities are presented within other liabilities on the consolidated statements of condition. Refer to Notes 1 and 6 for further information.
(2) | The outstanding balance of subordinated debentures was presented net of debt issuance costs of $251,000 and $366,000 at December 31, 2019 and 2018, respectively.
Schedule of Federal Home Loan Bank Advances | The terms of the Company's outstanding FHLBB borrowings, including overnight funding, were as follows as of the dates indicated:
|  | December 31,
(Dollars in thousands) |  | 2019 |  | 2018
Stated Maturity |  | Outstanding Balance |  | Weighted Average Contractual Rate |  |  | Outstanding Balance |  | Weighted Average Contractual Rate
January 2019 |  | $ | — |  |  | — |  |  |  | $ | 25,000 |  |  | 2.71 | %
January 2020 |  | 30,825 |  |  | 1.79 | % |  |  | — |  |  | — |
April 2020 |  | 10,000 |  |  | 1.87 | % |  |  | 10,000 |  |  | 1.87 | %
Total |  | $ | 40,825 |  |  |  |  |  | $ | 35,000 |  |  |
The Company's outstanding FHLBB borrowings at December 31, 2019 and 2018 did not contain any call options.

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