v3.21.1

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Schedule of long-term debt

The table below summarizes the terms of each issuance of junior subordinated notes outstanding as of the dates indicated:

(in thousands)						Face Value						Book Value						Interest Rate						Rate						Maturity Date						Callable Date
March 31, 2021
ATBancorp Statutory Trust I						$	7,732					$	6,859					Three-month LIBOR + 1.68%						1.86		%				06/15/2036						06/15/2011
ATBancorp Statutory Trust II						12,372						10,864						Three-month LIBOR + 1.65%						1.83		%				09/15/2037						06/15/2012
Barron Investment Capital Trust I						2,062						1,775						Three-month LIBOR + 2.15%						2.35		%				09/23/2036						09/23/2011
Central Bancshares Capital Trust II						7,217						6,845						Three-month LIBOR + 3.50%						3.68		%				03/15/2038						03/15/2013
MidWestOne Statutory Trust II						15,464						15,464						Three-month LIBOR + 1.59%						1.77		%				12/15/2037						12/15/2012
Total						$	44,847					$	41,807
December 31, 2020
ATBancorp Statutory Trust I						$	7,732					$	6,850					Three-month LIBOR + 1.68%						1.90		%				06/15/2036						06/15/2011
ATBancorp Statutory Trust II						12,372						10,850						Three-month LIBOR + 1.65%						1.87		%				09/15/2037						06/15/2012
Barron Investment Capital Trust I						2,062						1,767						Three-month LIBOR + 2.15%						2.39		%				09/23/2036						09/23/2011
Central Bancshares Capital Trust II						7,217						6,832						Three-month LIBOR + 3.50%						3.72		%				03/15/2038						03/15/2013
MidWestOne Statutory Trust II						15,464						15,464						Three-month LIBOR + 1.59%						1.81		%				12/15/2037						12/15/2012
Total						$	44,847					$	41,763

Long-term borrowings were as follows as of March 31, 2021 and December 31, 2020:

			March 31, 2021												December 31, 2020
(in thousands)			Weighted Average Rate						Balance						Weighted Average Rate						Balance
Finance lease payable			8.89		%				$	1,061					8.89		%				$	1,096
FHLB borrowings			1.90						84,174						1.92						91,198
Total			1.99		%				$	85,235					2.00		%				$	92,294

Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank

As of March 31, 2021, FHLB borrowings were as follows:

(in thousands)						Weighted Average Rate						Amount
Due in 2021						0.76		%				$	36,000
Due in 2022						2.68		%				31,000
Due in 2023						2.79		%				11,000
Due in 2024						3.15		%				6,000
Total												84,000
Valuation adjustment from acquisition accounting												174
Total												$	84,174

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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