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Long-Term Debt

12 Months Ended

Dec. 31, 2020

Long-Term Debt.

NOTE 14 Long-Term Debt

Long-term debt at December 31, 2020 and 2019 consisted of the following:


		December 31, 2020
										Period End
		Face			Carrying					Interest		Maturity
(dollars in thousands)		Value			Value			Interest Rate		Rate		Date		Call Date
Subordinated notes payable		$	50,000		$	49,688		Three-month LIBOR + 4.12%		4.36	%	12/30/2025		12/30/2020
Junior subordinated debenture (Trust I)			4,124			3,447		Three-month LIBOR + 3.10%		3.35	%	6/26/2033		6/26/2008
Junior subordinated debenture (Trust II)			6,186			5,170		Three-month LIBOR + 1.80%		2.02	%	9/15/2036		9/15/2011
Finance lease liability			2,700			430		Fixed		7.81	%	10/31/2022		N/A
Total long-term debt		$	63,010		$	58,735


		December 31, 2019
										Period End
		Face			Carrying					Interest		Maturity
(dollars in thousands)		Value			Value			Interest Rate		Rate		Date		Call Date
Subordinated notes payable		$	50,000		$	49,625		Fixed		5.75	%	12/30/2025		12/30/2020
Junior subordinated debenture (Trust I)			4,124			3,402		Three-month LIBOR + 3.10%		5.05	%	6/26/2033		6/26/2008
Junior subordinated debenture (Trust II)			6,186			5,102		Three-month LIBOR + 1.80%		3.69	%	9/15/2036		9/15/2011
Finance lease liability			2,700			640		Fixed		7.81	%	10/31/2022		N/A
Total long-term debt		$	63,010		$	58,769