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Subordinated Debentures (Tables)

12 Months Ended

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

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- References

No definition available.

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