Federal Home Loan Bank Advances and Other Borrowings (Tables)

12 Months Ended

Dec. 31, 2020

Advances from Federal Home Loan Banks [Abstract]

Summary of activities in advances from the FHLB

The following table summarizes activities in advances from the FHLB for the periods indicated:

	Year Ended December 31,
	2020			2019
	(Dollars in thousands)
Average balance outstanding	$	139,190		$	404,959
Weighted average rate	1.10		%	2.43		%
Maximum amount outstanding at any month-end during the year	$	521,017		$	1,091,596
Balance outstanding at end of year	31,000			517,026
Weighted average interest rate at year-end	1.53		%	1.69		%

Summary of activities in other borrowings

The following table summarizes activities in other borrowings for the periods indicated:

	Year Ended December 31,
	2020			2019
	(Dollars in thousands)
Average balance outstanding	$	251		$	229
Weighted average rate	0.16		%	0.63		%
Maximum amount outstanding at any month-end during the year	$	5,000		$	10,000
Balance outstanding at end of year	—			—
Weighted average interest rate at year-end	—		%	—		%

The following table summarizes our outstanding subordinated debentures as of December 31:

						2020		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	$	59,552	$	59,432
Subordinated notes due 2029, 4.875% per annum until May 15, 2024, 3-month LIBOR +4.9% thereafter	May 15, 2029	4.875	%	125,000		122,877		122,622
Subordinated notes due 2030, 5.375% per annum until June 15, 2025, 3-month SOFR +5.17% thereafter	June 15, 2030	5.375	%	150,000		147,501		—
Subordinated notes due 2025, 7.125% per annum	June 26, 2025	7.125	%	25,000		25,109		25,133
Subordinated notes due 2026, 5.5% per annum until June 30 2021, 3-month LIBOR +4.285% thereafter	July 1, 2026	5.50	%	135,000		138,371		—
Total subordinated notes				495,000		493,410		207,187
Subordinated debt
Heritage Oaks Capital Trust II (junior subordinated debt), 3-month LIBOR+1.72%	January 1, 2037	1.95	%	5,248		4,121		4,054
Santa Lucia Bancorp (CA) Capital Trust (junior subordinated debt), 3-month LIBOR+1.48%	July 7, 2036	1.72	%	5,155		3,980		3,904
Total subordinated debt				10,403		8,101		7,958
Total subordinated debentures				$	505,403	$	501,511	$	215,145