Funds Borrowed (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Outstanding Balances of Funds Borrowed

The outstanding balances of funds borrowed were as follows:

	Payments Due for the Twelve Months Ending June 30,
(Dollars in thousands)	2020		2021		2022		2023		2024		Thereafter		June 30, 2019		December 31, 2018		Interest Rate (1)
Deposits	$	330,902	$	183,873	$	229,929	$	97,811	$	85,143	$	—	$	927,658	$	848,040		2.36	%
SBA debentures and    borrowings		24,452		8,500	—			5,000		2,500		35,000		75,452		80,099		3.41	%
Retail and privately placed    notes	—			33,625	—			—		30,000	—			63,625		33,625		8.65	%
Notes payable to banks		14,523		32,665		280		280		140	—			47,888		59,615		4.78	%
Preferred securities	—		—		—		—		—			33,000		33,000		33,000		4.60	%
Other borrowings		7,713	—		—		—		—		—			7,713		7,649		2.00	%
Total	$	377,590	$	258,663	$	230,209	$	103,091	$	117,783	$	68,000	$	1,155,336	$	1,062,028		2.94	%

(1) Weighted average contractual rate as of June 30, 2019.

Summary of Time Deposits on Basis of Their Maturity

The table presents time deposits of $100,000 or more by their maturity:

(Dollars in thousands)	June 30, 2019
Three months or less	$	116,138
Over three months through six months		59,460
Over six months through one year		155,304
Over one year		596,756
Total deposits	$	927,658

Summary of Key Attributes of Various Borrowing Arrangements with Lenders

The table below summarizes the key attributes of the Company’s various borrowing arrangements with these lenders as of June 30, 2019.

(Dollars in thousands)

Borrower

# of Lenders/ Notes

Note Dates

Maturity Dates

Type

Note Amounts

Balance Outstanding at June 30, 2019

Monthly Payment

Average Interest Rate at June 30, 2019

Interest Rate Index(1)

The Company

6/6

4/11 - 8/14

7/19 - 3/21

Term loans and demand notes secured by pledged loans (2)

$

35,096

(2)

$

35,096

Interest only(3)

5.23

%

Various(3)

Medallion Chicago

2/23

11/11 - 12/11

2/21

Term loans secured by owned Chicago medallions(4)

18,449

11,532

$134 of principal & interest

3.50

%

N/A

Medallion Funding

1/1

11/18

12/23

1,260

1,260

$70 principal & interest paid quarterly

4.00

%

N/A

$

54,805

$

47,888

(1) At June 30, 2019, 30 day LIBOR was 2.40%, 360 day LIBOR was 2.18%, and the prime rate was 5.50%.

(2) One note has an interest rate of Prime, one note has an interest rate of Prime plus 0.50%, one note has a fixed interest rate of 3.75%, one note has an interest rate of LIBOR plus 3.75%, and the other interest rates on these borrowings are LIBOR plus 2%.

(3) Various agreements call for remittance of all principal received on pledged loans subject to minimum monthly payments ranging from $12 to $81.

(4) Guaranteed by the Company.