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Subordinated Debentures (Tables) | 12 Months Ended
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Dec. 31, 2020
Subordinated Borrowings [Abstract] |
Summary of Subordinated Debt Obligations to the Trusts | Following is a summary of subordinated debt obligations to the trusts at December 31, 2020 and 2019:
| December 31, |  |  |  |  |
| 2020 |  | 2019 |  | Interest Rate |  | Due Date
| (Dollars in thousands) |  |  |  |  |
American Equity Capital Trust II | $ | 78,112 |  |  | $ | 77,822 |  |  | 5% |  | June 1, 2047
American Equity Capital Trust III | — |  |  | 27,840 |  |  | *LIBOR + | 3.90% |  | April 29, 2034
American Equity Capital Trust IV | — |  |  | 12,372 |  |  | *LIBOR + | 4.00% |  | January 8, 2034
American Equity Capital Trust XII | — |  |  | 41,238 |  |  | *LIBOR + | 3.50% |  | April 7, 2036
| 78,112 |  |  | 159,272 |  |  |  |  |  |
Unamortized debt issue costs | — |  |  | (2,007) |  |  |  |  |  |
| $ | 78,112 |  |  | $ | 157,265 |  |  |  |  |  |
*—three month London Interbank Offered Rate

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details
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