XML 79 R46.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Borrowings (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt Instruments | The following table summarizes certain information of the Company’s borrowings as of and for the years ended December 31, 2024 and 2023.
|  | December 31, 2024 |  | December 31, 2023
($ in thousands) |  | Amount |  | Rate |  | Amount |  | Rate
Average for the year |  |  |  |  |  |  |  |
FHLB advances - variable |  | $ | 37,648 |  |  | 5.66 | % |  | $ | 111,392 |  |  | 4.95 | %
FHLB advances - fixed |  | 32,650 |  |  | 4.87 |  |  | — |  |  | — |
At year end |  |  |  |  |  |  |  |
FHLB advances - fixed(1) |  | 50,000 |  |  | 4.79 |  |  | — |  |  | — |
(1) Fixed-rate advance with an option of terminating at predetermined dates, without incurring a prepayment fee. The following table summarizes certain information of the Company’s long-term debt at December 31, 2024 and 2023.
($ in thousands) |  | December 31, 2024 |  | December 31, 2023 |  | Issue Date |  | Stated Maturity Date |  | Earliest Call Date |  | Interest Rate
September 2030 Subordinated Debentures |  | 25,000 |  |  | 25,000 |  |  | 2020 |  | 2030 |  | 2025 |  | 5.375% through September 2025, 3-month SOFR + 5.265% thereafter
October 2030 Subordinated Debentures |  | 19,500 |  |  | 19,500 |  |  | 2020 |  | 2030 |  | 2025 |  | 4.75% through October 2025, 3-month SOFR + 4.58% thereafter
Total subordinated debentures |  | 44,500 |  |  | 44,500 |  |  |  |  |  |  |  |  |
Severn Capital Trust I |  | 20,619 |  |  | 20,619 |  |  | 2004 |  | 2035 |  |  |  | 3-month SOFR + 2.00%
Tri-County Capital Trust I |  | 7,217 |  |  | 7,217 |  |  | 2004 |  | 2034 |  |  |  | 90-day SOFR + 2.60%
Tri-County Capital Trust II |  | 5,155 |  |  | 5,155 |  |  | 2005 |  | 2035 |  |  |  | 90-day SOFR + 1.70%
Total trust preferred securities |  | 32,991 |  |  | 32,991 |  |  |  |  |  |  |  |  |
Less: net discount and unamortized issuance costs |  | (3,774) |  |  | (4,822) |  |  |  |  |  |  |  |  |
Total long-term debt |  | $ | 73,717 |  |  | $ | 72,669 |  |  |  |  |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration