Long-Term Borrowings and Subordinated Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Long-Term Borrowings, Interest Expense and Weighted Average Interest Rate

The following table represents the balance of long-term borrowings, the weighted average interest rate as of December 31 and interest expense for the years ended December 31:

(dollars in thousand)	2018			2017			2016
Long-term borrowings	$	70,314		$	47,301		$	14,713
Weighted average interest rate	2.84		%	1.88		%	2.91		%
Interest expense	$	1,129		$	463		$	670

Schedule of Annual Maturities and Average Interest Rate of Long-Term Debt

Scheduled annual maturities and average interest rates for all of our long-term debt for each of the five years subsequent to December 31, 2018 and thereafter are as follows:

(dollars in thousands)	Balance		Average  Rate
2019	$	37,529	2.50	%
2020	27,021		2.91	%
2021	1,077		3.69	%
2022	553		5.05	%
2023	427		6.64	%
Thereafter	3,707		3.78	%
Total	$	70,314	2.79	%

Schedule of Junior Subordinated Debt Securities and Interest Expense

The following table represents the composition of junior subordinated debt securities at December 31 and the interest expense for the years ended December 31:

	2018				2017				2016
(dollars in thousands)	Balance		Interest Expense		Balance		Interest Expense		Balance		Interest Expense
2006 Junior subordinated debt	$	25,000	$	951	$	25,000	$	708	$	25,000	$	580
2008 Junior subordinated debt—trust preferred securities	20,619		1,149		20,619		955		20,619		854
Total	$	45,619	$	2,100	$	45,619	$	1,663	$	45,619	$	1,434

Schedule of Junior Subordinated Debt Securities

The following table summarizes the key terms of our junior subordinated debt securities:

(dollars in thousands)	2006 Junior Subordinated Debt	2008 Trust Preferred Securities
Junior Subordinated Debt	$25,000	—
Trust Preferred Securities	—	$20,619
Stated Maturity Date	12/15/2036	3/15/2038
Optional redemption date at par	Any time after 9/15/2011	Any time after 3/15/2013
Regulatory Capital	Tier 2	Tier 1
Interest Rate	3 month LIBOR plus 160 bps	3 month LIBOR plus 350 bps
Interest Rate at December 31, 2018	4.39%	6.29%