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Long-Term Borrowings | 9 Months Ended
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Sep. 30, 2020
Long-term Debt, Unclassified [Abstract] |
Long-Term Borrowings | Note 9. Long-Term Borrowings The following table presents information related to the Company’s long-term borrowings as of September 30, 2020 (unaudited) and December 31, 2019.
(dollars in thousands) |  | September 30, 2020 |  | December 31, 2019
Subordinated Notes, 5.75% |  | $ | 70,000 |  |  | $ | 70,000 |
Subordinated Notes, 5.0% |  | 150,000 |  |  | 150,000 |
FHLB Advance, 1.81% |  | 50,000 |  |  | — |
Less: unamortized debt issuance costs |  | (2,020) |  |  | (2,313) |
Long-term borrowings |  | $ | 267,980 |  |  | $ | 217,687 |
On August 5, 2014, the Company completed the sale of $70.0 million of its 5.75% subordinated notes, due September 1, 2024 (the “2024 Notes”). The 2024 Notes were offered to the public at par and qualify as Tier 2 capital for regulatory purposes to the fullest extent permitted under the Basel III Rule capital requirements. The net proceeds were approximately $68.8 million, which includes $1.2 million in deferred financing costs which are being amortized over the life of the 2024 Notes. On July 26, 2016, the Company completed the sale of $150.0 million of its 5.00% Fixed-to-Floating Rate Subordinated Notes, due August 1, 2026 (the “2026 Notes”). The 2026 Notes were offered to the public at par and qualify as Tier 2 capital for regulatory purposes to the fullest extent permitted under the Basel III Rule capital requirements. The net proceeds were approximately $147.4 million, which includes $2.6 million in deferred financing costs which are being amortized over the life of the 2026 Notes. On February 26, 2020, the Bank borrowed $50 million dollars under its borrowing arrangement with the Federal Home Loan Bank of Atlanta at a fixed rate of 1.81% with a maturity date of February 26, 2030 as part of the overall asset liability strategy and to support loan growth.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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