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FHLB Advances, Other Borrowings and Junior Subordinated Notes Payable (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Schedule of Debt

The composition of borrowed funds is shown below. Average balances represent year-to-date averages.

						September 30, 2023																		December 31, 2022
						Balance						Weighted Average Balance						Weighted Average Rate						Balance						Weighted Average Balance						Weighted Average Rate
						(Dollars in Thousands)
Federal funds purchased						$	—					$	4					5.35		%				$	—					$	14					7.42		%
FHLB advances						314,500						368,913						2.54						416,380						414,191						1.70
Line of credit						—						50						7.24						—						85						2.78
Other borrowings						—						802						8.31						6,088						8,624						5.23
Subordinated notes and debentures						49,391						34,495						4.84						34,340						35,095						5.06
Junior subordinated notes(1)						—						—						—						—						2,429						20.75
						$	363,891					$	404,264					2.75						$	456,808					$	460,438					2.12

(1)Weighted average rate of junior subordinated notes and debentures reflects the accelerated amortization of subordinated debt issuance costs as a result of the early redemption of the junior subordinated notes during the first quarter of 2022.

Schedule of Maturities of Long-term Debt

A summary of annual maturities of borrowings at September 30, 2023 is as follows:

(In Thousands)
Maturities during the year ended December 31,
2023						$	103,000
2024						35,500
2025						48,000
2026						60,000
2027						28,000
Thereafter						89,391
						$	363,891

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481544/470-10-50-1

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