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BORROWINGS (Tables)
9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of borrowings from FHLB Topeka
The following presents the Company’s maturities of FHLB and FRB borrowings (dollars in thousands):
Maturity DateRate %September 30,
2024
December 31,
2023
January 1, 2024(1)
5.55 %$— $41,175 
March 27, 20244.78 — 30,997 
March 29, 20245.60 — 50,000 
October 1, 20244.99 50,000 — 
January 10, 20254.87 10,000 — 
$60,000 $122,172 
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(1)The borrowing has a one day, automatic daily renewal maturity date, subject to FHLB discretion not to renew.
Schedule of debt
The following presents the Company’s subordinated notes included in the Subordinated notes line of the Condensed Consolidated Balance Sheets as of the periods noted (dollars in thousands):
Issuance DateStated RateInterest PaidMaturityCarrying ValueInitial Debt Issuance Costs
Remaining Net Balance(1)
March 2020
5.125% per annum until 3/31/2025, then alternative rate plus 450 basis points until maturity
Quarterly3/31/2030$8,000 $120 $7,988 
November 2020
4.25% per annum until 12/1/2025, then SOFR plus 402 basis points until maturity
Semi-annual (Quarterly beginning 12/01/25)12/1/203010,000 162 9,942 
August 2021
3.25% per annum until 9/1/2026, then SOFR plus 258 basis points until maturity
Semi-annual (Quarterly beginning 09/01/26)9/1/203115,000 242 14,894 
December 2022
7.00% per annum until 12/15/2027, then SOFR plus 328 basis points until maturity
Semi-annual (Quarterly beginning 12/15/27)12/15/203220,000 506 19,684 
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(1)Remaining net balance includes amortization of debt issuance costs.