Subordinated Debentures (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of outstanding subordinated debentures

The following table summarizes our outstanding subordinated debentures as of the dates indicated:

						September 30, 2020		December 31, 2019
	Stated Maturity	Current Interest Rate		Current Principal Balance		Carrying Value
				(Dollars in thousands)
Subordinated notes
Subordinated notes due 2024, 5.75% per annum	September 3, 2024	5.75	%	$	60,000	$	59,522	$	59,432
Subordinated notes due 2029, 4.875% per annum until May 15, 2024, 3-month LIBOR +2.5% thereafter	May 15, 2029	4.875	%	125,000		122,813		122,622
Subordinated notes due 2030, 5.375% per annum until June 15, 2025, 3-month SOFR +5.170% thereafter	June 15, 2030	5.375	%	150,000		147,435		—
Subordinated notes due 2025, 7.125% per annum	June 26, 2025	7.125	%	25,000		25,115		25,133
Subordinated notes due 2026, 5.50% per annum until June 30 2021, 3-month LIBOR +4.285% thereafter	July 1, 2026	5.50	%	135,000		138,492		—
Total subordinated notes				495,000		493,377		207,187
Subordinated debt
Heritage Oaks Capital Trust II (junior subordinated debt), 3-month LIBOR+1.72%	January 1, 2037	2.02	%	5,248		4,105		4,054
Santa Lucia Bancorp (CA) Capital Trust (junior subordinated debt), 3-month LIBOR+1.48%	July 7, 2036	1.76	%	5,155		3,961		3,904
Total subordinated debt				10,403		8,066		7,958
Total subordinated debentures				$	505,403	$	501,443	$	215,145