Summary of trust preferred debentures |
The following table summarizes the Company’s trust preferred debentures at December 31, 2020 and 2019: | | | | | | | | | | | | (dollars in thousands) | 2020 | | 2019 | Midland States Preferred Securities Trust – variable interest rate equal to LIBOR plus 2.75%, which was 2.96% and 4.68% at December 31, 2020 and 2019, respectively – $10,310 maturing April 23, 2034 | $ | 10,276 | | | $ | 10,274 | | Grant Park Statutory Trust I – variable interest rate equal to LIBOR plus 2.85%, which was 3.06% and 4.79%, at December 31, 2020 and 2019, respectively – $3,093 maturing January 23, 2034 | 2,314 | | | 2,263 | | Love Savings/Heartland Capital Trust III – variable interest rate equal to LIBOR plus 1.75%, which was 1.97% and 3.64% at December 31, 2020 and 2019, respectively – $20,619 maturing December 31, 2036 | 14,442 | | | 14,251 | | Love Savings/Heartland Capital Trust IV – variable interest rate equal to LIBOR plus 1.47%, which was 1.70% and 3.36% at December 31, 2020 and 2018, respectively – $20,619 maturing September 6, 2037 | 13,621 | | | 13,428 | | Centrue Statutory Trust II - variable interest rate equal to LIBOR plus 2.65%, which was 2.88% and 4.55% at December 31, 2020 and 2018, respectively - $10,310 maturing June 17, 2034 | 8,161 | | | 8,072 | | Total trust preferred debentures | $ | 48,814 | | | $ | 48,288 | |
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