Short and Long-Term Borrowings (Tables)

9 Months Ended

Sep. 30, 2019

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, 2019			December 31, 2018
FHLB advances	$	15,056		$	35,252
Junior subordinated debentures	30,455			30,096
Subordinated notes	11,984			11,957
Total long-term borrowings	$	57,495		$	77,305
Percent of fixed rate long-term borrowings	58		%	69		%
Percent of floating rate long-term borrowings	42		%	31		%

Schedule of junior subordinated debentures

		Junior Subordinated Debentures
				9/30/2019			9/30/2019		12/31/18
(in thousands)	Maturity Date	Par		Unamortized Discount			Carrying Value		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		(3,222		)	7,088		6,939
2006 Baylake Corp. (3)	9/30/2036	16,598		(3,942		)	12,656		12,478
2004 First Menasha Bancshares, Inc. (4)	3/17/2034	5,155		(630		)	4,525		4,493
Total		$	38,249	$	(7,794	)	$	30,455	$	30,096

(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 3.55% and 4.22% as of September 30, 2019 and December 31, 2018, 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 3.45% and 4.15% as of September 30, 2019 and December 31, 2018, 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 4.93% and 5.58% as of September 30, 2019 and December 31, 2018, respectively.