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Subordinated Debentures (Tables) | 9 Months Ended
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Sep. 30, 2023
Subordinated Debentures |
Schedule of subordinated debentures | The following table presents a summary of the Company’s subordinated debentures as of September 30, 2023 and December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Total Debt | ​ | ​ | Total Debt | ​ | ​ | ​ | ​ | ​
​ | ​ | Date | ​ | First | ​ | Maturity | ​ | Outstanding | ​ | ​ | Outstanding | ​ | Interest | ​ | ​ | ​
Name | ​ | Established | ​ | Redemption Date | ​ | Date | ​ | September 30, 2023 | ​ | ​ | December 31, 2022 | ​ | Rate | ​ | ​ | Coupon Structure
(dollars in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2030 Notes | ​ | June 19, 2020 | ​ | July 1, 2025 | ​ | July 1, 2030 | $ | 50,000 | ​ | $ | 50,000 | ​ | 5.25 | % | ​ | Fixed-to-Floating (1)
2031 Notes | ​ | July 8, 2021 | ​ | July 15, 2026 | ​ | July 15, 2031 | ​ | 30,000 | ​ | ​ | 30,000 | ​ | 3.25 | % | ​ | Fixed-to-Floating (2)
Subordinated Debentures | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 80,000 | ​ | ​ | 80,000 | ​ | ​ | ​ | ​ | ​
Debt Issuance Costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (808) | ​ | ​ | (1,095) | ​ | ​ | ​ | ​ | ​
Subordinated Debentures, Net of Issuance Costs | ​ | ​ | ​ | ​ | ​ | ​ | $ | 79,192 | ​ | $ | 78,905 | ​ | ​ | ​ | ​ | ​
(1) | Migrates to three month term SOFR + 5.13% beginning July 1, 2025 until either the early redemption date or the maturity date.
(2) | Migrates to three month term SOFR + 2.52% beginning July 15, 2026 until either the early redemption date or the maturity date.

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- Definition Tabular disclosure of borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC uniform net capital rules for broker-dealers, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 470 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480876/942-470-45-1 + Details
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- References No definition available. + Details
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