Short and Long-Term Borrowings (Tables)

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Schedule of components of long-term borrowings

The components of long-term borrowings (borrowing with an original maturity greater than one year) were as follows.

(in thousands)	September 30, 2018		December 31, 2017
FHLB advances	$	35,317	$	36,509
Junior subordinated debentures	29,976		29,616
Subordinated notes	11,948		11,921
Total long-term borrowings	$	77,241	$	78,046

Schedule of junior subordinated debentures

At September 30, 2018 and December 31, 2017, $28.8 million and $28.5 million, respectively, qualify as Tier 1 capital.

		Junior Subordinated Debentures
(in thousands)	Maturity Date	Par		9/30/2018 Unamortized Discount			9/30/2018 Carrying Value		12/31/2017 Carrying Value
2004 Nicolet Bankshares Statutory Trust(1)	7/15/2034	$	6,186	$	—		$	6,186	$	6,186
2005 Mid-Wisconsin Financial Services, Inc.(2)	12/15/2035	10,310		(3,421		)	6,889		6,739
2006 Baylake Corp.(3)	9/30/2036	16,598		(4,179		)	12,419		12,242
2004 First Menasha Bancshares, Inc.(4)	3/17/2034	5,155		(673		)	4,482		4,449
Total		$	38,249	$	(8,273	)	$	29,976	$	29,616

(1) The interest rate is 8.00% fixed.

(2) The debentures, assumed in April 2013 as the result of an acquisition, have a floating rate of the three-month LIBOR plus 1.43%, adjusted quarterly. The interest rates were 3.76% and 3.02% as of September 30, 2018 and December 31, 2017, respectively.

(3) The debentures, assumed in April 2016 as a result of an acquisition, have a floating rate of the three-month LIBOR plus 1.35%, adjusted quarterly. The interest rates were 3.75% and 3.04% as of September 30, 2018 and December 31, 2017, respectively.

(4) The debentures, assumed in April 2017 as the result of an acquisition, have a floating rate of the three-month LIBOR plus 2.79%, adjusted quarterly. The interest rates were 5.12% and 4.39% as of September 30, 2018 and December 31, 2017, respectively.