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TRUST PREFERRED DEBENTURES (Tables) | 12 Months Ended
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Dec. 31, 2024
TRUST PREFERRED DEBENTURES |
Summary of Trust Preferred Debentures | The following table summarizes the terms of each issuance:
|  |  |  |  |  |  |  |  |  |  | At December 31, 2024 |  | At December 31, 2023
(dollars in thousands) | Date of issuance |  | Issuance Amount |  | Shares Issued |  | Variable Rate |  | Maturity Date |  | Carrying Amount |  | Rate |  | Carrying Amount |  | Rate
Grant Park Statutory Trust I | 12/19/2003 |  | $ | 3,093 |  |  | 3,000 |  | SOFR plus 2.85% |  | 1/23/2034 |  | $ | 2,493 |  |  | 7.70 | % |  | $ | 2,454 |  |  | 8.52 | %
Midland States Preferred Securities Trust | 3/26/2004 |  | 10,310 |  |  | 10,000 |  | SOFR plus 2.75% |  | 4/23/2034 |  | 10,286 |  |  | 7.64 | % |  | 10,284 |  |  | 8.42 | %
Centrue Statutory Trust II | 4/22/2004 |  | 10,310 |  |  | 10,000 |  | SOFR plus 2.65% |  | 6/17/2034 |  | 8,577 |  |  | 7.26 | % |  | 8,468 |  |  | 8.32 | %
Love Savings/Heartland Capital Trust III | 11/30/2006 |  | 20,619 |  |  | 20,000 |  | SOFR plus 1.75% |  | 12/31/2036 |  | 15,328 |  |  | 6.37 | % |  | 15,110 |  |  | 7.42 | %
Love Savings/Heartland Capital Trust IV | 6/6/2007 |  | 20,619 |  |  | 20,000 |  | SOFR plus 1.47% |  | 9/6/2037 |  | 14,521 |  |  | 6.18 | % |  | 14,300 |  |  | 7.13 | %
Total trust preferred debentures |  |  | $ | 64,951 |  |  |  |  |  |  |  |  | $ | 51,205 |  |  |  |  | $ | 50,616 |  |  |

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