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v3.20.4

Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2020
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, 2020 |  | Contractual Maturity |  | December 31, 2019
(Dollars in thousands) |  | Outstanding Balance |  | Weighted Average Contractual Rate |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | Thereafter |  | Outstanding Balance |  | Weighted Average Contractual Rate
Short-Term Borrowings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FHLBB borrowings |  | $ | — |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 25,000 |  |  |
Customer repurchase agreements |  | 162,439 |  |  |  |  | 162,439 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 237,984 |  |  |
FHLBB and correspondent bank overnight borrowings |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,825 |  |  |
Total short-term borrowings |  | $ | 162,439 |  |  | 0.34 | % |  | $ | 162,439 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 268,809 |  |  | 1.28 | %
Long-Term Borrowings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FHLBB borrowings |  | $ | 25,000 |  |  | 0.98 | % |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 25,000 |  |  | $ | — |  |  | $ | 10,000 |  |  | 1.87 | %
Total long-term borrowings |  | $ | 25,000 |  |  | 0.98 | % |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 25,000 |  |  | $ | — |  |  | $ | 10,000 |  |  | 1.87 | %
Subordinated Debentures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subordinated debentures(1) |  | $ | 15,000 |  |  | 5.50 | % |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 15,000 |  |  | $ | — |  |  | $ | 14,749 |  |  | 5.50 | %
CCTA(2) |  | 36,083 |  |  | 1.64 | % |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 36,083 |  |  | 36,083 |  |  | 3.36 | %
UBCT(2) |  | 8,248 |  |  | 1.66 | % |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8,248 |  |  | 8,248 |  |  | 3.41 | %
Total subordinated debentures |  | $ | 59,331 |  |  | 2.62 | % |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 15,000 |  |  | $ | 44,331 |  |  | $ | 59,080 |  |  | 3.90 | %
(1) The outstanding balance of subordinated debentures was presented net of debt issuance costs of $0 and $251,000 at December 31, 2020 and 2019, respectively. (2) The Company has interest rate swap contracts on certain borrowings. Refer to Note 12 for further discussion of derivative instruments.
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) |  | 2020 |  | 2019
Stated Maturity |  | Outstanding Balance |  | Weighted Average Contractual Rate |  |  | Outstanding Balance |  | Weighted Average Contractual Rate
January 2020 |  | $ | — |  |  | — | % |  |  | $ | 30,825 |  |  | 1.79 | %
April 2020 |  | — |  |  | — | % |  |  | 10,000 |  |  | 1.87 | %
March 2025 |  | 25,000 |  |  | 0.98 | % |  |  | — |  |  | — | %
Total |  | $ | 25,000 |  |  |  |  |  | $ | 40,825 |  |  |

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