XML 44 R33.htm IDEA: XBRL DOCUMENT
v3.25.2

Subordinated Debentures (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Subordinated Debentures |
Schedule of subordinated debentures | The following table presents a summary of the Company’s subordinated debentures as of June 30, 2025 and December 31, 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Total Debt | ​ | ​ | Total Debt | ​ | ​ | ​ | ​ | ​
​ | ​ | Date | ​ | ​ | First | ​ | ​ | Maturity | ​ | Outstanding | ​ | ​ | Outstanding | ​ | Interest | ​ | ​ | ​
Name | ​ | Established | ​ | ​ | Redemption Date | ​ | ​ | Date | ​ | June 30, 2025 | ​ | ​ | December 31, 2024 | ​ | Rate | ​ | ​ | Coupon Structure
(dollars in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2030 Notes | ​ | June 19, 2020 | ​ | ​ | July 1, 2025 | ​ | ​ | July 1, 2030 | $ | — | ​ | $ | 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)
2035 Notes | ​ | June 24, 2025 | ​ | ​ | June 30, 2030 | ​ | ​ | June 30, 2035 | ​ | 80,000 | ​ | ​ | — | ​ | 7.625 | % | ​ | Fixed-to-Floating (3)
Subordinated Debentures | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 110,000 | ​ | ​ | 80,000 | ​ | ​ | ​ | ​ | ​
Debt Issuance Costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1,311) | ​ | ​ | (330) | ​ | ​ | ​ | ​ | ​
Subordinated Debentures, Net of Issuance Costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 108,689 | ​ | $ | 79,670 | ​ | ​ | ​ | ​ | ​
(1) | Notes fully redeemed.
(2) | Migrates to three month term SOFR + 2.52% beginning July 15, 2026 until either the maturity date or earlier redemption date.
(3) | Migrates to three month term SOFR + 3.88% beginning June 30, 2030 until either the maturity date or earlier redemption date.

X
- 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/1943274/2147478878/942-470-45-1 + Details
Name: | us-gaap_ScheduleOfSubordinatedBorrowingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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