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

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Composition of borrowed funds

The composition of borrowed funds is shown below.

						December 31, 2023																		December 31, 2022
						Balance						Weighted Average Balance						Weighted Average Rate						Balance						Weighted Average Balance						Weighted Average Rate
						(Dollars in Thousands)
Federal funds purchased						$	—					$	3					5.37		%				$	—					$	14					7.42		%
FHLB advances						281,500						351,990						2.52						416,380						414,191						1.70
Line of credit						—						38						7.26						—						85						2.78
Other borrowings						20						600						8.33						6,088						8,624						5.23
Subordinated notes and debentures						49,396						38,250						5.16						34,340						35,095						5.06
Junior subordinated notes(1)						—						—						—						—						2,429						20.75
						$	330,916					$	390,881					2.79						$	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 December 31, 2023 is as follows:

(In Thousands)
Maturities during the year ended December 31,
2024						$	120,520
2025						48,000
2026						65,000
2027						28,000
2028						—
Thereafter						69,396
						$	330,916

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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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